MKIK: Refugee crisis will have negative economic impact

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The economic impact of the refugee crisis on Hungary is yet to be determined, but there will clearly be negative consequences that will impact the majority of Hungarians, László Parragh, chairman of the Hungarian Chamber of Commerce and Industry (MKIK), said at a conference held by the chamber today in Budapest, according to Hungarian news agency MTI.

Police guards border fence near Röszke on September 7. (Photo: MTI / Edvárd Molnár)

Parragh estimated that the Hungarian government has already spent tens of billions of forints on the handling of refugees and this in turn will throw the budget out of balance.

The government has already estimated that the fence being built on the Serbian border to stop anyone from unauthorized entry into Hungary will cost HUF 29 bln.

The expenditures could also have an impact on investments and even consumption, according to the chairman. Parragh said he hopes that the situation will soon be resolved and he called on the Hungary government to act decisively in the matter, according to MTI.

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