Hungarian Minister Szijjártó concerns about war’s economic impact, disregards Ukraine’s struggling economy
The war in Ukraine is not only causing casualties and destruction but also significant economic damage, according to Péter Szijjártó, the foreign minister of Hungary. Speaking in Brussels, Szijjártó emphasized the urgent need for peace in order to prevent further deterioration of the economy in Europe.
Szijjártó criticized the European Union for its measures against Russia, stating that they have negatively impacted the bloc’s competitiveness. He noted that the EU’s sanctions have led to increased energy prices and inflation, contrasting the actions of the US and China, which have supported their industries with substantial financial aid.
The minister also criticized the EU for creating bureaucratic obstacles to economic growth, noting that the European Commission’s procedures often delay investment projects for years. He warned that the ideological approach taken by Brussels could result in the fragmentation of the global economy into blocs, hindering economic development.
Szijjártó highlighted the importance of cooperation between Eastern and Western economies, citing Hungary as a successful example of such collaboration. He emphasized that Chinese investments are crucial for the European and Hungarian economies to thrive, rejecting measures that could impede cooperation between the EU and China.
Despite calls for increased duty on Russian and Belarusian food imports, Hungary abstained from the council vote, with Szijjártó emphasizing the need for peace above all else. He pointed out that Hungary has already paid a high price for the war, incurring billions of euros in additional energy costs and battling inflation.
In conclusion, Szijjártó reiterated the importance of ending the war and finding diplomatic solutions to prevent further economic hardship in Europe. He urged for a shift towards cooperation and away from ideological divides that could harm the global economy.
