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Péter Oszkó: Economic Policy that Creates Uncertainty and Distrust Is Costing Us a Lot of Money
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The real cost of public debt lies not in the size of the debt, but in its financing, former Finance Minister Péter Oszkó pointed out in a recent analysis. He pointed out that while Hungary's debt level is around the EU average, interest burdens are far higher, consuming nearly 5 percent of GDP annually. "This is the real tragedy," he said, since the state pays several times more interest on a medium-sized debt than in other countries in the regi…
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