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EU Summit Aims to Convince Hungary to Back Ukraine Aid

HUNGARY
  • EU leaders will seek to use the summit held today in Brussels to convince Prime Minister Orban to join a plan to offer stable financing to Ukraine, but they are also ready to provide the cash to Kyiv without Hungary if their arguments fail, Reuters report.
  • Hungary posted a trade surplus of EUR 1.6bln in November, up EUR 3.0bln year-on-year, the Central Statistical Office said in a second reading of the data this morning. Exports slipped by 3.1% y/y while imports dropped by 23%.
  • Meanwhile, Hungary's manufacturing PMI fell to 49.9 in January from a revised 51.0 in December, according to data from Halpim.
  • Swedish Prime Minster Ulf Kristersson may meet Orban in Brussels, Bloomberg report. The meeting would likely be held on the sidelines of the EU summit.
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