Hearty Hungarian Goulash with Potatoes

Ingredients

• 100 g Kaiser (smoked pork belly) or sunflower oil
• 400 g beef meat
• 2 onions, finely chopped
• 4 garlic cloves, finely chopped
• 2 bay leaves
• Salt
• freshly ground black pepper
• 1 cup water (plus extra as needed)
• 2 bell peppers, finely chopped
• 1 medium carrot, diced
• 1 small or 2 medium tomatoes, diced
• 7 potatoes, cut into large pieces
• 1 tsp dried chili powder
• 2 heaping tablespoons sweet paprika