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Russia continues implementation of projects with Hungary — Novak

The Russian Deputy Prime Minister pointed out that the trade between Moscow and Budapest returned to growth

ST. PETERSBURG, June 19. /TASS/. The trade between Russia and Hungary returns to growth and Hungarian investments in Russia surged by 30% in 2024, Russian Deputy Prime Minister Alexander Novak said after the meeting with Hungary’s Foreign Affairs and Trade Minister Peter Szijjarto on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"The trade between Russia and Hungary returned to growth. Implementation of earlier reached agreements in healthcare and pharmaceuticals, sports, culture, higher education, agriculture and energy continues," Novak said.

"Volumes of the mutual trade in services grew by 3.4 times. Hungarian investments in Russia surge by more than 30% over the last year. As of the end of the first quarter of 2025, Hungary ranked 13th among all Russian trade and economic partners and the 2nd place among the EU countries. The trade turnover between the two countries increased by 18% over that period," Novak added.

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