Viktor Orbán Warns of EU’s Declining Competitiveness as Major Challenge
Hungarian Prime Minister Viktor Orbán delivered a two-hour international press conference at the European Parliament on Tuesday, outlining the priorities of the Hungarian Presidency of the Council of the European Union. Orbán emphasized the urgent need to address the decline in European competitiveness, proposing the adoption of a new five-year European competitiveness pact.
Orbán highlighted the significance of enhancing European competitiveness, citing the persistent slower economic growth compared to the United States and China. He pointed out the adverse demographic trends in Europe, which pose a challenge to the growth of Europe’s gross domestic product.
The Hungarian Presidency aims to present the competitiveness pact at an informal meeting of European leaders scheduled in Budapest on November 8. The pact would focus on reducing administrative burdens, over-regulation, ensuring affordable energy prices, and implementing a green industrial policy in coordination with European industrial policy.
Additionally, the proposal includes the establishment of a capital market union to retain European savings within the continent. Orbán also stressed the importance of connectivity, citing the illogicality of imposing a punitive tax on Chinese electric cars, which lacks support from a majority of EU member states.
Addressing migration issues, Orbán proposed the introduction of Schengen summits to jointly manage Schengen borders at the highest political level. The Hungarian Presidency also prioritizes EU defense policy, strengthening the technological base, enlargement policy focusing on Balkan integration, and agricultural policy guidelines for the upcoming budget period starting in 2027.
Orbán concluded by stating that the implementation of the Hungarian Presidency’s proposals would contribute to “Making Europe Great Again,” emphasizing the vision for a competitive, crisis-resilient, and farmer-friendly European agriculture. The Hungarian Presidency aims to drive positive changes and revitalize the European economy through strategic initiatives and collaborative efforts within the EU.
