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Orban Will Use 'Other Financing' For Gas Plants If EU Does Not Pay Up


Wires carrying comments from Hungarian PM Viktor Orban delivering a speech on the economy talking on energy supplies and debt servicing. Orban: 'We will build gas-fired plants to supply industrial hubs...we will need two or three larger gas-fired plants to supply factories in eastern Hungary.' Says that to build the plants 'EU funding could be involved, if available, otherwise we will use other sources of financing.'

  • What the 'other sources of financing' could be remains unclear. Orban has retained the closest relationship with Russia of any EU member state since Moscow's invasion of Ukraine, while the Paks nuclear power plant in central Hungary is set to be expanded with the aid of Russian state-owned nuclear operator Rosatom. The - albeit slim - prospect of Russian investment in Hungarian gas-fired plants would be of significant concern to Brussels.
  • On servicing Hungary's debt, Orban states that 'Rising debt servicing costs are a challenge' but there is 'no imminent threat' from the costs.

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