Minister Szijjártó worries about the economic impact of the war in Europe, ignores Ukraine’s shattered economy
Apart from the casualties and destruction, the war in Ukraine “is causing serious economic damage”, which underlines the importance of establishing peace as soon as possible, Péter Szijjártó, the foreign minister, said in Brussels on Thursday, adding that “unimpeded economic development” was conditional on peace.
Europe “is facing serious difficulties and its economy is quickly deteriorating,” foreign ministry statement quoted Szijjártó as saying at the council meeting with foreign trade on its agenda. “The situation has been deteriorating since the outbreak of the war.”
Szijjarto said the EU’s “ill-advised” measures had dealt a serious blow to the bloc’s competitiveness, adding that in wake of the EU sanctions against Russia “energy prices and inflation have skyrocketed”.
He said that unlike the US and China, the EU had failed to take measures to protect their own businesses. “What’s more, the EU has introduced further red tape hindering economic growth”.
While the US administration allocated 370 billion dollars to support strategic industries, “member states here need a permit from Brussels to provide a subsidy for investment projects from their own coffers,” he said, adding that the European Commission’s procedures “often take years to complete”.
The minister slammed the EU for applying “an ideological approach to economic issues, as a consequence of which the world is falling into blocs again, which also hinders economic growth.”
“Brussels and other Western European capitals are seeking to destroy absolutely sensible East-West cooperation,” he said, adding that this could potentially “knock out” the European economy.
It was “indispensable” to help the EU “become a winner rather than a loser in the global economy’s most significant revolutionary transition; that is, the transformation of car making,” he said.
Hungary is an excellent example of the benefits of cooperation between East and West, Szijjártó said, adding that cooperation with Eastern countries had brought the country “to the forefront of the global technological revolution, with tens of thousands of modern jobs.”
Hungary has “thus become the meeting point for Eastern and Western economies, thanks to a marked presence of German, Chinese, and South Korean companies,” he said. The Hungarian government “will not support any measures … that could hinder, prevent, or make more expensive cooperation between the EU and China,” he added.
The minister insisted that the European and Hungarian economies “could not grow as much without Chinese investments as with close cooperation.”
Meanwhile, the council voted to increase duty on Russian and Belarusian food imports, Szijjártó said, adding that Hungary was the only country that had abstained.
The foreign minister said all this “highlights the importance of peace”.
“Hungary has paid a high price for the war in the form of 10 billion euros of dearer energy bills,” he said, adding that the country had also spent most of last year fighting inflation.
The foreign minister insisted that the war and sanctions in response were to blame for rising inflation instead of the government’s “so-called mistaken economic strategy and bad decisions”.
read also:
- Hungarian government says EU politicians want to take young people to the Ukrainian front, details HERE
- Trump: ‘Orbán doesn’t want war; I don’t want war either’
Zelensky with the support of Ukrainians ruined Ukraine’s economy. Hungary is not responsible to help fix it. Hungarian government only duty is to improve the life of the citizens.
Should Ukraine lose this war and Russia advance through most or all of Ukraine estimates are that there will 30 million Ukrainian refugees fleeing to the EU. Think about what the economic cost of that would be and compare it to the economic cost of supporting Ukraine to fight for its’ freedom. It is Russia and not the EU that is responsible for this war and its’ cost.
He seems to be the only one. The rest of European “leaders” are globalist-socialist puppets who are happy to destroy their economies and, with them, their citizens’ livelihoods and lives in the furtherance of demented agenda.
Putin said more than a week ago that he’s ready to recognize the current front lines and end the war. Notice how nobody has taken him up on it. Close to the start of the war he proposed entering into negotiations; Great Britain said no, let’s continue the war instead.
It’s clear what’s happening here.
Perhaps worth reading the IMF report, before believing Mr. Szijjártó´s stories:
https://www.imf.org/en/Publications/selected-issues-papers/Issues/2023/02/27/Drivers-of-Inflation-Hungary-530224
@mariavontheresa – fingers crossed that the EU sends Hungary some more of that free money, so we can raise the wages of our doctors, care workers, and teachers! We are a TAKER. We rely on those gullible Contributor countries:
https://www.statista.com/chart/18794/net-contributors-to-eu-budget/