New Silk Road could double Hungary’s GDP, says MNB

Int’l Relations

The New Silk Road, the trade route between Asia and Europe that China is aiming to revive, could double Hungary’s GDP, National Bank of Hungary (MNB) governor György Matolcsy said at a meeting of economists yesterday, according to Hungarian news agency MTI.

If Hungary remains open to the Silk Road, it could add another EUR 100 billion to its economy, Matolcsy said. 

He noted that 64 countries lie along the trade route, and these countries generate 40% of global GDP. 

The National Bank of Hungary has already made agreements with some of China’s biggest banks, he added. 

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