Government: Hungary, Slovakia benefit a lot from cooperation

Both Hungary and Slovakia have benefitted a lot from their cooperation in the current rather tense global economic situation in which stable and predictable ties are of high value, Foreign Minister Péter Szijjártó said in Budapest on Friday, after talks with Ivan Korcok, his Slovak counterpart.

Szijjártó told a joint press conference that both countries were facing threats and challenges posed directly by the war in neighbouring Ukraine.

“Both countries have taken in several hundreds of thousands of refugees.

Hungary has offered entry to and catered for 800,000 people fleeing Ukraine and will continue to provide these forms of assistance as long as needed,” the minister said. He thanked the Hungarian charity organisations and their staff for their efforts provided in the largest ever humanitarian programme in the country’s history, also thanking the work of their Slovak counterparts.

Turning to economic issues, Szijjártó noted

soaring inflation, energy prices and banking interests rates as the most pressing challenges, adding that all those factors “could easily trigger a global economic crisis”.

“There’s a lot of tension in the global economy, and one clear sign of it is coming at us in the form of an incredible international pressure that Hungary should back the introduction of a European global minimum tax,” Szijjártó said. Such a tax would however have “a tragic effect” on the European economy, including the Hungarian one, he said.

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Szijjártó said that in the current tense global economic situation stable and predictable economic cooperation such as the one developed by Hungary and Slovakia over the past years must be particularly valued. He noted that bilateral trade last year reached a record 13 billion euros and increased in the first three months of 2022 by 49 percent.