Hungarian authorities want to increase defense spending in 2024 by almost 29%

The Hungarian government is going to allocate €4.85 billion for military spending in 2024, which is 28.6% more than this year. According to Hungarian Finance Minister Mihaly Varga, the growth in defense spending is due to the continuation of the armed conflict on the territory of Ukraine bordering Hungary.

“Next year, the amount of funds allocated for defense will be HUF 1,796 billion (€4.85 billion), which is HUF 401 billion (€1.08 billion) more than in 2023,” said Mr. Varga, introducing the draft state budget of Hungary in the country’s parliament (quote from TASS).

On May 26, the head of the Hungarian Ministry of Finance cited data according to which Budapest’s spending on national defense would exceed 2% of the country’s GDP. According to the minister, hostilities in Ukraine “probably will not end in the near future and will continue next year.” Mr. Varga specified that funds are also required to protect the borders from illegal migration.

Earlier, European countries asked Brussels for €10 billion in compensation for arms supplies to Ukraine. Hungary opposes another tranche of €500 million to Kyiv. Hungarian Foreign Minister Peter Szijjarto called for a ceasefire agreement, and also said that the sanctions against the Russian Federation “failed because the hostilities in Ukraine continue, and the economic situation in Europe is getting worse.”

Read about what happens after the entry of Russian troops into Ukraine in the online broadcast of Kommersant.

Alexander Kislov


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