Government: Europe facing serious economic challenges

Europe is facing serious economic challenges due to the war in Ukraine and the community’s sanctions against Russia, the foreign minister said on Facebook on Saturday.

Péter Szijjártó added that “an environment of war inflation is likely to stay for the long run”. In this situation, increasing the tax burden on productive companies would further deteriorate Europe’s competitiveness and jeopardise “tens of thousands of jobs”, he said. The Hungarian government, therefore, opposes the introduction of a global minimum tax in Europe, he said, and insisted that such a measure would result in one of the highest tax hikes in Hungary.

Szijjártó dismissed recent remarks by the French finance minister suggesting that Hungary had been motivated by something else to oppose the minimum tax, and said

“we don’t usually mix up things of different kinds and respectfully ask our French friends not to do so either”.

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