Russian sanctions said to have a cooling effect on Hungary’s economy

Analysis

Sanctions in Russia, the conflict in Ukraine together with the euro zone’s sluggish economic growth, have had a chilling effect on Hungary, according to economic news TV station CNBC. 

In a separate report, the Minister of State for Taxation and Financial Affairs, Gábor Orbán underpinned this argument by telling CNBC that “the impact of the sanctions have been more on the indirect side of the confidence channel… It has worked its way through Germany and German business confidence." 

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