High energy prices are pushing economies all over Europe towards recession, Hungary's finance minister wrote on social media.

„The governor of the Central Bank is right in saying that we have a problem, but the problem affects everyone: high energy prices are pushing economies all over Europe towards recession,” Finance Minister Mihaly Varga wrote on social media in response to a statement by Gorgy Matolcsy, the governor of Hungary’s Central Bank.

as the outcome of crisis management, economic growth has remained high so far (4.1% in the third quarter, which is the seventh highest rate in the EU) and employment is also high (4.7 million people are in jobs, keeping unemployment below 4%).