Hungary quietly takes record $1 billion loan from Chinese banks.Budapest took a…

⚡️ Hungary quietly takes record $1 billion loan from Chinese banks.

Budapest took a 1 billion euro ($1 billion) loan, the largest one ever taken by the state, from three Chinese banks in the spring of 2024, Politico reported on July 25, citing the data of the Hungarian Debt Management Office.

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Hungary quietly takes record $1 billion loan from Chinese banks

Hungary’s record loan came amid a record increase in its public debt to 140 billion euros ($152 billion), 73.5% of GDP, and a budget deficit of 6.7% of GDP, while the country has no access to European Union funds due to the conflict with Brussels.


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