Orbanomics is the name given to the economic policies of Hungarian prime minister Viktor Orbán and his government since it took power in 2010. These policies are in reaction to the global economic crisis and the state of Hungary's economy in it. Instrumental in the invention and implementation of these policies was György Matolcsy, former Minister of National Economy and current Governor of the Hungarian National Bank.
History
After the 2010 parliamentary elections in Hungary, the newly elected Orbán government tried to negotiate an exemption from the strict European Union regulation setting a 3% limit on budget deficit. Since the request was turned down Hungary turned to taxation policies regarded as unorthodox by the international community to cover the deficit.