Varga: U.K. companies committed to Hungary

EU

Despite the referendum on Brexit and its possible implications, approximately 3,000 British companies remain active in Hungary and wish to continue operating here, Hungary’s National Economy Minister Mihály Varga said yesterday, according to reports.

Speaking after a meeting of the EU’s finance ministers in Brussels yesterday, Varga noted in a statement issued by his ministry that the impact of the U.K.ʼs departure from the EU could shave 0.3-0.4% off Hungaryʼs economic growth in the coming years, Hungarian news agency MTI reported. 

Ministers attending the meeting agreed that the efficiency of the banking system in the area needs to be improved as a measure of defense against the impact of Brexit, Varga reportedly said. He added that the particular economic characteristics of individual member states need to be weighed more carefully when establishing strategic goals, MTI reported.

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