Varga: Defense spending doesn't affect deficit target
Growth in defense spending due to the Russia-Ukraine conflict does not endanger this year's budget deficit target, Hungary’s Economy Minister Mihály Varga said in an interview with commercial news broadcaster Hír TV on Saturday.
The minister said that Hungary is convinced that the European Union sanctions against Russia would not lead to a resolution of the conflict. According to Varga, Hungary must assert its economic interests, and the conflict underescores the need to develop the country’s defense industry, which has been neglected for more than 20 years.
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