Europe Economic Performance To Decline Significantly If Energy Crisis Not Solved - Orban

MOSCOW, April 6 (Bernama-Sputnik/RIA Novosti) -- If Europe does not resolve the situation with rising energy prices and shortages soon, its economic performance will decline significantly for years to come, Hungarian Prime Minister Viktor Orban said on Monday, reported Sputnik/RIA Novosti.

"The consequences of what awaits the whole world in the next two, three or four weeks, and especially Europe, will determine the state of the European economy for many years to come.

“Therefore, if we cannot find a solution to replace the rapidly rising prices with acceptable ones and avoid a threatening shortage by accumulating the necessary reserves, the European economy will simply dramatically reduce its performance," Orban told a press conference.

The Hungarian prime minister stressed that this is "a very serious problem that will undermine economic growth, interest rates, and inflation," and "there is very little time to make a decision."

Europe is threatened simultaneously by an energy crisis, as the one in 2022, and a financial one, as the crisis in 2008, Orban added.

--BERNAMA-SPUTNIK/RIA NOVOSTI