Jobbik: Recession possible if EU funding reduced or cut off

Opposition Jobbik says the Orban government has failed to change Hungary's economic dependence on European Union funding and if the financing is cut off due to an Article 7 procedure or otherwise reduced, then the country would fall into recession. Janos Volner, the radical nationalist party's deputy leader, noted on Wednesday that the European Parliament had recently decided to put Hungary on track towards the procedure that would strip it of its EU voting rights due to perceived infractions of democracy and the rule of law under the government of Viktor Orban. The move would also suspend EU subsidies. Volner said that in the next EU financial framework, Hungary is likely to receive 23-24 percent less funding. In this case, there would also be a recession, he insisted.