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Fidesz See No Legal Hurdles Left for EU Funding

HUNGARY
  • A group of Fidesz MPs have stated that there remain no legal obstacles to the disbursement of blocked EU funding for Hungary, with the report covering the May visit of the budget control delegation to Budapest released yesterday, which acknowledged positive outcomes on anti-corruption and judicial reforms.
  • Foreign minister Szijjarto, after a meeting with his Azeri counterpart, stated that the EU no longer have the right to intervene or advise on where Hungary sources natural gas. Szijjarto also announced a deal for Azerbaijan to deliver as many as 100mln cubic metres of gas to Hungary, with the option for a further 50mln.
  • Late yesterday, the Hungarian debt office upped their debt issuance plans for 2023, including plans for a benchmark Eurobond (but no USD debt). The overall issuance plans were raised by 7.9% to HUF 3.13trl.
  • No key data releases due Tuesday, with focus instead on retail sales, industrial production and CPI data due on Wednesday, Thursday and Friday respectively.

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