wsj - hungary

March 19, 2014 1:04 PM, The Wall Street Journal
Hungary Prime Minister Vows to Continue With Economic Reforms
Program Aims To Bring About Structural Change, Bolster Output Growth

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Meanwhile, Hungary has made Russia one of its strategic business partners. Mr. Orbán signed an agreement with Russian President Vladimir Putin in January to expand Hungary's only nuclear plant, with Moscow providing a 32-year loan worth 10 billion euros ($13.9 billion), 10% of Hungary's gross domestic product, to finance the project.

"We can only make Russia interested in Hungary's economic success if it receives a privileged partner status with a major contract," Mr. Orbán said Wednesday.

Hungary's EU and North Atlantic Treaty Organization memberships are a given but the country needs to reposition itself on the global scene, the Hungarian prime minister also said. "Hungary needs to engage every single major global player—the U.S., Germany, Japan, Russia and China—in becoming a stakeholder in Hungary's economic success," he said.
Hungary wants to grow twice as fast as Germany as it seeks to become the EU's most industrialized nation, Mr. Orbán said. The industrial sector contributes to 23% of gross domestic product in Hungary at present, he added, ranking it third in the bloc after Germany and the Czech Republic, where industry accounts for between 24% and 26% of GDP.
Hungary's gross domestic product per capita, based on purchasing power, was 66% of the EU average in 2012, according to Eurostat.


Recent ASX release

WHE is progressing the development of the Mecsek Hills Uranium Project which combines WHE's 42.9km Pécs uranium licence and Hungarian state owned Mecsekérc adjoining 19.6km MML-E uranium licence. The project has a total JORC Inferred Resource of 48.3Mt at 0.072% U3O8 for 77Mlbs of U3O8 and an Exploration Target of an additional 55-90Mlbs of U3O8 with a grade range of 0.075-0.10% U3O8, making it one of the largest uranium deposits in Europe.

Government negotiations and strategic partnership discussions are on-going with a further update on this expected in the NEAR TERM.

Blood in the streets opportunity