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Hungary will accelerate its program to develop its defense capabilities, Prime Minister Viktor Orban told state radio, Reuters reported, citing BTA.

"We must radically increase our defense capabilities," Orbán said.

He emphasized again that it is in Hungary's interest that the war in neighboring Ukraine ends as soon as possible.

After the NATO summit, where the alliance also agreed to host Finland and Sweden, Orbán said "military realities" were slowly setting in in Ukraine, with the country losing many soldiers every day and while the front seemed still far from Hungary, the situation could change He reiterated that Hungary, as a NATO ally, should stay out of the war.

"We need to start the engines ... and speed up our defense development program," Orban said.

Orban, who was re-elected in April with a landslide election victory for a fourth consecutive term, has said that Hungary is not even ready to negotiate a possible EU embargo or restrictions on Russian gas imports, as it would cause major problems for the Hungarian economy.

Hungary will be able to control energy firms in the event of a supply crisis

"Sanctions are not needed, but an immediate ceasefire and peace talks," he said, adding that peace was also needed to curb what he called "war inflation".

Inflation in Hungary is in double digits despite the introduction of price caps on fuel, energy bills and basic food items, forcing the National Bank of Hungary to raise its key interest rate to 7.75% on Tuesday.

Viktor Orban