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HUNGARY: Orban Addresses Impact of War on Fiscal Expenditure, GDP Growth

HUNGARY
  • "If we weren't in a wartime environment, then economic growth wouldn't be 2.5pc, it would be double," MTI report Prime Minister Orban as saying on state radio, referring to the government's official 2024 GDP growth target. He also pointed to fiscal risks posed by the war: "If we have to calculate with the war in '25, too, then defence expenditures in '23 and '24 won't be enough...and we'll have to raise that spending, and if we have to raise that, then there will be less for other areas."
  • National Economy Minister Marton Nagy said Hungary's ties with China are necessary to improve the country's competitiveness. Nagy said Hungary had all of the qualities necessary to make the country a logistics hub for Chinese goods, given its geographic location, level of infrastructure and competitive investment environment, according to MTI.
  • There are no local data releases scheduled for today. Trade balance, retail sales, industrial production and CPI data will all cross next week.

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