Varga said Brexit would have a direct effect due to Hungarian-British economic ties and an indirect effect through the European Union.

The Economy Ministry compiled a report that mainly examined foreign trade and the effect of the British economy on the European economy. The ministry also took into account that Great Britain is a a net contributor to EU finances and Brexit could affect Hungaryʼs status as a non-beneficiary, Varga said.

A British exit would have consequences that are difficult to measure, among them changes in employment opportunities in Great Britain, its effect on bilateral trade and British investments in Hungary and financial service providers in Great Britain possibly moving to other countries.

MTI Photo: Szilárd Koszticsák