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GDP Would Have Been More Resilient With RRF Funds, Varga Says

HUNGARY
  • Minister of Finance Varga said Hungary's GDP growth would have been "over 5%" last year had the country been paid its Recovery and Resilience Facility (RRF) funding in due time in a statement issued ahead of a meeting with his EU peers earlier this week, according to novekedes.hu. "By holding back that funding, the European Commission hurt Hungary's competitiveness and interfered in competition among member states," Varga said.
  • Hungary had a EUR781m current account deficit in January, data released by the NBH this morning showed. The gap widened from EUR694m in December but was well under the EUR1.699bn deficit in November.
  • Talks between Prime Minister Orban and Turkish President Erdogan in Ankara focused on the war in Ukraine and energy security issues, the PM's press chief said as reported by MTI. "Drifting into war and its escalation must be avoided," the statement reads quoting the two leaders.
  • Chris Erceg, the deputy director at the IMF’s Monetary and Capital Markets Department, will take part in a panel at a central banking conference at Budapest’s Corvinus University later today. There are no data releases scheduled today.
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