Soaring inflation is taking the steam out of Hungary's wedding market, supercharged in recent years by Prime Minister Viktor Orban's lavish family support measures, with the number of weddings plunging to a nine-year-low at the start of 2023.
Nationalist Orban, in power since 2010, has launched tax breaks, housing support schemes and cheap loans worth some 5% of economic output per year for newly weds to arrest Hungary's demographic decline, while strongly opposing immigration.
But the situation appears to be changing with Hungary now projected to run the EU's highest average inflation rate at 16.4% this year amid surging food, power and services prices, driving up the cost of nuptials and eroding the value of Orban's support measures. "Nearly anyone who could potentially get married has already done so," she said. "We did not think that this wedding boom would be so strong and prolonged, but it will now probably return to equilibrium."
Mihaly Toth, a master of wedding ceremonies, says the number of couples planning to tie the knot is likely to fall from last year's levels.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Israeli prime minister fires defense minister, sparking mass protestsThousands of people poured into the streets of cities across Israel on Sunday night in a spontaneous outburst of anger after Prime Minister Benjamin Netanyahu abruptly fired his defense minister for challenging the Israeli leader's judicial overhaul plan.
Read more »
Israeli Prime Minister Fires Defense Minister Amid ProtestsIsraeli Prime Minister Benjamin Netanyahu fired his defense minister on Sunday, a day after the former army general called for a halt to the planned overhaul of Israel’s judiciary that has fiercely divided the country.
Read more »
Thai Prime Minister Prayuth kicks off reelection campaignNONTHABURI, Thailand (AP) — Thailand's Prime Minister Prayuth Chan-ocha on Saturday officially accepted his party’s nomination as its main candidate to keep the job in the upcoming general election, promising to build a new political climate that does away with decades of conflict.
Read more »
Hungary would not arrest Putin despite ICC warrant, official saysA Hungarian official has said that the country would not arrest Putin if he entered Hungary, despite the International Criminal Court warrant for alleged war crimes.
Read more »
Hungary: Criticism makes it hard to cooperate with WestUNITED NATIONS (AP) — The West’s steady criticism of Hungary on democratic and cultural issues makes the small European country’s right-wing government reluctant to offer support on practical matters, specifically NATO’s buildup against Russia, Hungary’s foreign minister said.
Read more »
Hungary: Criticism makes it hard to cooperate with WestHungary's foreign minister says the West’s steady criticism of his country on democratic and cultural issues makes the right-wing government reluctant to offer support on practical matters, specifically NATO’s buildup against Russia.
Read more »