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Orban to Consider Abstention From All NATO Decision-Making

HUNGARY
  • The Hungarian government are to consider abstaining from NATO decision-making in the future, with the government looking to avoid escalation or broadening of the war in Ukraine, according to the head of Orban's office.
  • The government are to expand their restrictions on the import of Ukrainian agricultural produce, with the cabinet looking to support domestic farmers and cope with the oversupply of certain goods. In announcing the measures, economy minister Nagy stated that "The EU betrayed the Hungarian farmers, and supports the Ukrainian oligarchs instead".
  • Industrial production data came in higher by 1.8% Y/Y in February. M/M output was higher by 3.5%, with automotive sector rising by 1.6%, while electrical equipment production dropped 0.8% over the same period.
  • Draft budget details are to be disclosed for 2025 on November 5th this year, a delay from prior commitments from the finance ministry. In related news, the government are to reschedule and shelve as much as HUF 675bln in investments to make further budget savings, according to finance minister Varga.
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