Economy Minister: Paks plant a “national security matter”

History

Speaking on an InfoRádió program yesterday, National Economy Minister Mihály Varga stated that expansion of the Paks nuclear power plant is “not merely an economic and competitiveness issue, but also a national security matter, because Hungary needs energy capacities that are within its borders.”

Varga cited the current “complicated situation” in Ukraine as an example of how Hungary cannot depend on imports to meet energy demands.

Varga also mentioned that no sector-based taxes will be eliminated in the near future, while reduction of the personal income tax and VAT rates is under consideration by the government.

Government: EC informed of Paks deal last year
Hungary’s government informed the European Commission (EC) of its impending interstate agreement with the Russian Federation to build new reactors at the Paks plant in November and December of last year, the government reported yesterday.

Prime Minister’s Office State Secretary János Lázár informed EC Energy Commissioner Günther Oettinger of its intention to conclude the agreement with Russia on November 26, and provided the EC commissioner with details regarding the pact on December 10.

Hungarian and Russian government officials signed an interstate agreement on January 14, 2014 to have Russian state-owned nuclear-energy company Rosatom build two new reactors at the Paks plant with €10 billion in loans from the state of Russia.

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