Hungary’s President warns that the country is facing “bankruptcy” because of the COVID-19

According to the Prime Minister of the country Viktor Orban, you must rebuild the budget of Hungary to offset the impact COVID-19, otherwise the outbreak will lead to the fact that the tourist season “will come to naught”.

“We need to prepare for a pandemic. We need to understand what a pandemic is and what consequences this will have for us. I want to tell you that we all must prepare to exit our comfort zone,” said Orban.

Speaking at the annual conference of the Hungarian chamber of Commerce in Budapest, Orban said that if nothing changes, Hungary will go bankrupt.

“The national economy gets in trouble, but you are also one after another goes bankrupt, trust me.”

Orban told business leaders that uncertainty and caution in the economy in the coming months will increase, adding that the tourism industry, logistics and hospitality industries will suffer.

According to Orban, Hungary needs to reconsider their budgets for 2020 and 2021, and offer serious assistance to economic sectors most affected by the outbreak.

“Obviously, we have to completely rebuild the budget for the year 2020 and to re-plan the budget for 2021, because we need to create funds in billions of forints (the Hungarian currency) to help the economy. It is not easy and it requires some contribution from everyone.”

He also said that it is necessary solution to the economic crisis was not as large as the crisis of 2008.