Tuesday, March 21

Orban to Extend Hungary’s Vehicle-Fuel Price Cap Beyond Election

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By Veronika Gulyas

(Bloomberg) —

Hungarian Prime Minister Viktor Orban said that he’ll extend a price cap on vehicle fuel by three months, providing a financial cushion for voters as he faces a tight race for re-election.

Orban made the announcement in a state-of-the-nation speech Saturday aimed at kicking off the campaign for the April 3 parliamentary elections that polls show to be the closest of his three terms in office.

Orban previously frozen mortgage ratescapped energy prices for retail customers, as well as prices of a narrow range of staple food items, but inflation nevertheless surged to an almost 15-year high in January. The fuel-price cap had been due to expire on Feb. 15.

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