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In order to prevent a long-term downturn, Minister of Foreign Affairs and Trade, Péter Szijjártó emphasized the crucial role of the Organisation for Economic Cooperation and Development (OECD) in restoring sanity and rationality to global economic discourse.
Speaking in Budapest on Tuesday during a press conference alongside OECD Secretary-General Mathias Cormann, Péter Szijjártó highlighted the current precarious era, marked by frequent upheavals in the world economy over the past four years. He stressed the urgency of returning to sensible economic thinking, stating:
We want to avoid a long-term global economic downturn. To do that, we see a need for sanity and normal thinking to return to the global economy.”
The Minister criticized sanction policies that lead to increased energy prices and inflation, emphasizing the need for pragmatic approaches over ideological monopolies, particularly in green transition and energy cooperation. Mr. Szijjártó remarked that “initiatives to isolate the Eastern and Western economies certainly do not fit into this common sense, this normal thinking.”
Emphasizing cooperation based on mutual respect between East and West, he underscored the importance of fair competition in global trade and the pursuit of responsible growth strategies that balance environmental protection and competitiveness. He noted that:
It must be recognized that a peaceful environment is the best creator of opportunities for economic development.”
Szijjártó highlighted the vital role of international organizations, particularly the OECD, in promoting and embracing rational economic thinking and also commended the Secretary-General’s efforts to enhance the OECD’s effectiveness as an international organization, ensuring continued global connectivity and cooperation in the years ahead.
In conclusion, he expressed Hungary’s support for the OECD’s efforts, advocating for its expansion and increased budget to further its role as a beacon of reason and normality in the international economy.
Via MTI; Featured Image: MTI / Balogh Zoltán