Hungarian minister hopes the new German government will “come to its senses”

Germany’s success is important for Hungary, National Economy Minister Márton Nagy said at the year opener of the German-Hungarian Chamber of Industry and Commerce (DUIHK) late Thursday.

Looking ahead to German elections, Nagy pointed to indications that the German government and its policies would “finally come to its senses”, taking heed of the economy and putting the economy first. He said that Germany had been in recession for two years and the economy was expected to continue contracting this year, too.

He said fiscal conservatism was among the faults of the German government’s economic policy, adding that such a policy had no place during the green and digital transitions. He said that Germany was now buying power from France as a result of decisions to shut down its nuclear power plants and cut some energy sourced from fossil fuel. Germany’s economic leadership has “no idea” what to do when it comes to electromobility, he said, adding that the German government’s decision in December to pull support for EVs had caused a downturn in the segment across Europe.