CORONAVIRUS: Here's the latest
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One of the government’s top priorities this year will be to protect the Hungarian economy and maintain its growth trajectory. The government will launch a new economic protection action plan accordingly.
Minister Varga said the economy was also expected to perform well in the second half of the year. He added that the economy has not lost momentum and that the Q2 growth rate had exceeded the ministry’s expectations.
Mihály Varga said Hungary’s convergence program for the 2018-2022 period sent to the European Commission includes a growth projection similar to its economic expansion assumption contained in Hungary’s last report
“I believe in simple things – work, homeland, families,” Prime Minister Orbán said earlier this week in his address to the Hungarian Chamber of Commerce. He then reiterated the four pillars that define Hungary’s economy policies: competitiveness, a workfare society, good demographics and identity-based politics. “All decisions made by this government could fit into these categories.”
Recent reports indicate that workers from the eastern member states of the European Union are returning home following work experience in western Europe. Booming econ-omies in the new member states are creating a pull factor, enticing workers to return to their home countries. And as they return home, they’re shattering a myth that critics have propagated for years.
The robust economic growth we’re now seeing, based on an economic policy that includes tax cuts and wage increases, has produced a significant increase in the Hungarian people’s standard of living, said Minister for National Economy Mihály Varga.
Hungarians are more optimistic about economic matters than before, the number of people whose financial situation significantly improved increased by two and a half times, and more people were able to finance substantial expenditures without turning to loans
Hungary’s economic turnaround is gaining steam. Official data from the fourth quarter shows GDP growth will reach 4.1 percent in 2017, and the unemployment rate has fallen to 3.8 percent, Minister for National Economy Mihály Varga said recently.
András Tállai, minister of State for Parliamentary Affairs and Taxation, said that up until December 13th 2017, state tax revenues totaled 12,000 billion HUF (38.7 billion euros) this year, up by some 5 percent compared to the same period last year
The funds are designed to expand micro-, small- and medium-sized enterprises, job creation, the development of industrial parks, brownfield industrial projects as well as efforts aiming to make Hungary even more attractive as a tourist destination
All Hungarian individuals and communities wherever they may live, said Prime Minister Viktor Orbán recently, are part of one nation, and in an age when “national interests come first, even in the European Union,” Hungary aims to unite what is a global nation and make it stronger as a whole.
“Hungary is continuously doing better, economic growth is higher than the European Union average and we can expect significant growth over the remainder of the year as well,” said the minister heading the Prime Minister’s Office
Mihály Varga, minister for National Economy, said rating agencies have now joined market players, the European Commission and other international organizations in confirming that the Hungarian economy is on the right track
“In Hungary, everything is in place to ensure that the upcoming years pass in the spirit of economic success. We would like to open a new era, an era of even higher economic growth in the history of the Hungarian economy," the prime minister said
Hungary has surpassed another benchmark: the five-year, CDS premium fell below the 100 point-mark, to 98 points, at the end of September in another sign that investors are upbeat about the economic outlook.
Hungary’s economy has been gaining strength since 2010. Unemployment is currently the 4th lowest within the EU, the rate of GDP growth is amongst the highest, and the volume of investment increased by 25 percent during the first six months of this year
Latvian members of Parliament signed and issued a declaration in support of Hungary after the European Commission launched infringement proceedings against several countries including Hungary because of their migration policies