Russian import ban caused great financial losses

By: trademagazin Date: 2016. 04. 05. 09:40

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The Russian ban on imports resulted in HUF 1,300 billion worth of loss for the Hungarian economy – informed the Ministry of Foreign Affairs and Trade. Approximately 10 percent of this sum was the export loss of Hungary’s agri-food sector. If the import ban stays in effect until the end of the year, a 0.1-percent GDP loss will occur in Hungary.