The Russian embargo caused 1300 billions HUF losses to the Hungarian economy

By: trademagazin Date: 2016. 02. 26. 11:40

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The Russian embargo has caused approximately 4.5 billion USD (1300 billion HUF) export loss to the Hungarian economy – Budai Gyula Minister of State for Foreign Economic Relations presented on Friday in Budapest at a press conference.

Budai Gyula added that 10 percent of the amount – approximately 450 million USD is the Hungarian agriculture’s and food industry’s loss. He also stressed that the Hungarian companies need the Russian market. (MTI)