Viktor Orbán and Vladimir Putin last met in person on 1 February 2022 in Moscow, before the outbreak of the war on Ukraine. This time the two leaders discussed energy matters and bilateral cooperation. During their meeting, the Hungarian PM also emphasized the need to put an end to the fighting and achieve peace.
Viktor Orbán stated in Beijing that during President Xi Jinping’s tenure, Chinese–Hungarian relations have reached ‘unprecedented heights,’ which is extremely beneficial for Hungary. Orbán expressed gratitude to his host for the constant and unwavering support that Xi Jinping has provided for the development of bilateral relations.
The prime minister emphasized that China is Hungary’s ninth most significant trading partner, and in 2023, China became Hungary’s largest foreign direct investor once again. Companies with Chinese ownership provide employment to nearly 20,000 people in Hungary.
As a result of a series of government initiatives, both households and institutional players have significantly increased their holdings of government bonds. In an unprecedented manner, households now hold a larger amount of government bonds than bank deposits.
Viktor Orbán met the Georgian prime minister this week. He is expected to also attend a forum in China, where Vladimir Putin will also be present. This could be the first time the two meet since the beginning of the Russo-Ukrainian war.
This positive trajectory in Hungary’s financial landscape had an impact on the nation’s global ranking in terms of wealth. Hungary has advanced two positions, now sitting at 30th place among the world’s nations, demonstrating the country’s progress despite the challenging economic conditions.