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PM Orban Sees Recession In Europe Due To Energy Crisis

HUNGARY
  • PM Orban mentioned earlier that he sees recession in Europe due to energy crisis and added that Hungary is unlikely to face gas cut.
  • Hungary’s talks with the European Union to access pandemic funds is “clearly positive” and may lead to reduced fiscal and financing risks for the country according to S&P (BBG).
  • Foreign minister Szijjarto told reporters yesterday that Hungary is negotiating with Russia and Western Europe to buy nat gas on top of LT supply agreement.
  • Szijjarto added that Hungary is targeting 2030 start for new reactors.
  • Yesterday, the NBH decided to keep its 1W depo rate steady at 9.75% (as expected).

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