Budapest, Hungary - Márton Nagy, Hungary's Minister for National Economy, has called for concrete measures to improve the European Union's competitiveness in the coming year. Speaking after the Competitiveness Council meeting in Brussels, Nagy emphasized the potential of the Budapest Declaration, a significant achievement of Hungary's EU presidency, to contribute to this goal.

Nagy highlighted that the EU's competitiveness has been declining in recent years. He argued that the Budapest Declaration on the New European Competitiveness Deal could stimulate economic growth and facilitate the green and economic transition.

The minister stressed the need to deepen the strategic sovereignty of the internal market, reduce regulatory burdens, and improve the business environment, especially for small and medium-sized enterprises. "Competitiveness should be based on productivity and innovation, not on protectionism or raising trade barriers," Nagy stated.

Addressing the challenges faced by the European automotive industry, Nagy emphasized the need to balance climate goals with industrial policy and competitiveness objectives. He criticized the EU for rushing into climate targets without adequately adjusting its industrial strategy.

"We have not provided the necessary support to the automotive industry to achieve these goals and make the green transition," Nagy said.

During the Council meeting, there was a debate on whether nuclear energy should be classified as clean energy. Nagy explained that the crux of the debate lies in whether nuclear energy should be eligible for subsidies from the EU budget or if it should be funded by national budgets. Hungary's position is clear: we consider nuclear energy to be clean and green. A country with cheap energy can transition to electric vehicles more quickly and safeguard its industry, he added.

In essence, Nagy's remarks highlight the need for a more balanced approach to EU policy, one that prioritizes competitiveness, innovation, and industrial policy alongside climate goals. He also underscores the importance of nuclear energy as a clean and affordable energy source for the EU.

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