Huge Alstom investment inaugurated in Hungary
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Péter Szijjártó, the minister of foreign affairs and trade, on Thursday inaugurated a capacity expansion of French machine manufacturer Alstom in Mátranovák, in north-east Hungary, and said that record investments would propel the country to the top of Europe’s list of fastest-growing nations.
The HUF 6 billion (EUR 15.4 million) Alstom project, which is expected to create 150 jobs, is supported by a HUF 1.2 billion (EUR 3.08 million) government grant, Szijjártó said.
The investment will expand the Alstom plant’s capacity by 40 percent, he added.
France, the second largest economy in the EU, is among the five largest investors in Hungary, he added.
Parliament debates Hungary-UAE economic agreement
Parliament debated a proposal on an economic agreement between Hungary and the United Arab Emirates at its plenary on Thursday.
Tristan Azbej, a state secretary of the foreign ministry, said opposition lawmakers had “willfully misunderstood” the proposal.
Regarding the investment project to redevelop Rákosrendező area in Budapest’s 14th district, Azbej said the government was seeking a parliamentary mandate for an international agreement laying the groundwork for the project, he added.
“The bill doesn’t apply to the implementation of the Rákosrendező investment or the details contained therein, but solely to the request for authorisation relating to the procedure establishing [the project] through an international treaty,” he said.
I’m going to have to pop con-man Szjijarto’s propaganda bubble about Hungary being one of the fastest growing economies. Ask any Hungarian on the street what they think and they know it’s a lie. Fidesz lies day in and day out.
According to BNP Paribas, “Hungary has one of the worst performing economies in the region”. GDP fell by 0.9 per cent in 2023. The Organisation for Economic Co-operation and Development (OECD) expects a slight recovery this year, to 2.4 per cent, but in a recent report warned that the pace of disinflation, future energy prices, and the delivery of EU funds dependent on rule-of-law reforms pose risks to the outlook.