- 17 May 2019 8:24 AM
- Hungary Matters
At a regular press briefing, Gergely Gulyás said Hungary had “balanced, good ties” with all leading world powers with which economic and political cooperation was significant.
Parliament is expected to approve a new bilateral defence cooperation pact with the US in the session after the European Parliament elections. He noted that Hungary was in the middle of reforming its military so that the country can join the ranks of NATO member states whose defence spending reaches 2% of GDP.
Hungary’s defence budget is expected to reach 1.6% of GDP next year, he said, adding that the 2% target was likely to be met by 2023. Hungary intends to buy the equipment necessary for the reform from NATO allies, he said, adding that the government was in talks with multiple member states.
On the subject of US measures aimed at slashing his country’s trade deficit, Gulyás said it was “good news” that the EU was in 2nd place behind China in terms of the size of their trade surplus with the US. But, he added, if the US and the EU failed to reach a trade deal, US measures could hurt Hungary’s economy.
MTI Photo: Koszticsák Szilárd