Hungary will increase defense spending if war in Ukraine continues in 2025 - Orban

Hungary will increase military spending on defense if the war in Ukraine continues next year, Hungarian Prime Minister Viktor Orban said on the air of the state radio Kossuth Rádió, reports UNN.

Details

Hungary will need to increase defense spending even more next year if the war in neighboring Ukraine drags on into 2025, reducing the amount of money available for other expenditures

Last year, Hungary spent more than 2.4 percent on defense, which is more than the two percent required by the NATO agreement. Orban's government is also trying to cope with a budget deficit that has averaged nearly seven percent of GDP over the past four years, well above the EU average. Last month, the Hungarian authorities announced that they would postpone investments equivalent to 1 percent of the economy's output in order to reduce the budget deficit to the target of 4.5 percent of GDP. While this is a step in the right direction, analysts believe that Hungary needs to do more to achieve these goals.

Recall

Hungarian Prime Minister Viktor Orban said on Friday that top European Union officials must be replaced because they do not deserve another chance after the upcoming elections to the European Parliament. These words came during his speech to supporters as part of the presentation of the Fidesz party's election program.

UK starts negotiations with Ukraine on 100-year partnershipMay 3 2024, 09:56 AM • 18154 views