Hungary warned of a loss of 4% of GDP in case of abandonment of Russian gas

On September 25, the head of the Hungarian Prime Minister's administration, Gergei Guyash, said that a complete rejection of Russian gas would result in losses of 4% of GDP for Hungary.

"According to the calculations of the IMF, the complete abandonment of Russian gas will have the greatest impact on Hungary, and the country may suffer losses in GDP even exceeding 4%. This means that, according to IMF calculations, the refusal will cost $10 billion, so energy security cannot be guaranteed in any case," Guyash said at a government briefing broadcast on Hir TV.

He added that experiments have shown that the Croatian JANAF oil pipeline will not be able to replace Druzhba in oil supplies to Hungary, and Zagreb has significantly increased transit fees.

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Budapest does not intend to finance the Armed Forces of Ukraine and abandon Russian gas

Earlier in the day, Hungarian Foreign Minister Peter Szijjarto said that Hungary plans to continue energy cooperation with the Russian side, and Moscow will remain a supplier of energy resources for Budapest. In addition, Szijjarto added that at the moment, Hungary's national interest lies in the ability to guarantee safe energy supplies to the country. He added that this is impossible without Russian oil and gas.

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