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HUNGARY: Hungary Took EUR1bn Loan in April from China

HUNGARY
  • The government in April received a EUR 1bn 3-year loan from China Development Bank, Export-Import Bank of China and Bank of China Ltd.’s Hungarian unit, the Debt Management Agency said in a statement yesterday. It did not provide details on why a formal announcement hadn’t been made until now.
  • According to the agency, the loan will help finance infrastructure, transport and energy projects. In 2022, Hungary took a $917m loan from Export-Import Bank of China to finance the Belgrade-Budapest rail project.
  • Hungary’s unemployment rate fell to 4.2% (Est: 4.3%) in June from 4.3% in May, according to the Central Statistical Office. That marks a YTD low for the series.
  • EU Affairs Minister Janos Boka holds a government briefing with Gergely Gulyas, the cabinet minister, as Hungary approaches the end of the first month of its rotating presidency of the EU.

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