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    Russian-Hungarian Trade Sees 27% Increase in 2017 Amid EU Anti-Russia Sanctions

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    Trade between Russia and Hungary saw positive dynamics as it increased by up to 27 percent in the first half of 2017, Russian President Vladimir Putin said on Monday at a meeting with Hungarian Prime Minister Viktor Orban.

    BUDAPEST (Sputnik) — Putin is attending the opening ceremony of the 2017 World Judo Championships in Budapest at the invitation of Orban.

    "I am glad to have an opportunity to discuss bilateral relations on the sidelines of the sports event. I would like to note that, despite all the difficulties, we nevertheless see an improvement in economic dynamics. Last year, we had a slight decrease in trade of some nine percent. But in the first half of this year [there has been an increase of] some 20 percent, it could even be 27 percent, according to different estimates," Putin said.

    Russian investors continue to show interest in Hungary, with the investment amounting to $1.5 billion, Putin noted.

    "We are working on our major projects, including in the energy sector. Everything that relates to the financing of the well-known Paks project, it is ensured — $12 billion. At the beginning of next year, the works at the site may begin," the Russian president pointed out.

    Paks, the only Hungarian NPP, was built in the 1980s, and produces approximately 50 percent of Hungary's electricity, according to the European Commission. In January 2014, Russia's Rosatom state nuclear corporation and the Hungarian MVM Group signed an agreement on building two additional units for the plant to be fitted with Russian VVER-1200 reactors.

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    Tags:
    bilateral trade, Rosatom, Viktor Orban, Hungary, Russia
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