CORONAVIRUS: Here's the latest
A regularly updated feed of the latest information about coronavirus in Hungary.Read more
In the past two weeks, more than 2,700 companies have applied to the government’s wage subsidy program, saving tens of thousands of jobs nationwide. Meanwhile, the coronavirus continues to spread the fastest in Budapest.
The latest numbers are out. Unemployment has reached a record low of 3.8 percent. According to 2017 fourth quarter data released last week by the Central Statistical Office, unemployment has been on the decline for 66 consecutive months.
Péter Szijjártó, minister of Foreign Affairs and Trade, said the group will increase production capacity with an investment of 5.2 billion HUF (16.8 million EUR), towards which the Hungarian government will provide one billion HUF in non-returnable funding
When the Orbán Government entered office in 2010, the prime minister said that Hungary would offer employment over welfare checks. Critics quickly denounced it as inhumane. Seven years on, 741 thousand more Hungarians have jobs. Tens of thousands that suffered from long-term unemployment have rejoined the active labor force, reclaiming their dignity and self-respect, and it has helped many out of poverty.
With record-low unemployment, steadily increasing wages and other rock-solid indicators, the Hungarian economy is healthier than it’s been in years. The economic performance of Central Europe has become the driving force for growth in the EU, but that’s not the only reason why Hungarians can now be proud of their achievements over the course of the last seven years.
“The economic growth of the four Visegrád Group (V4) countries is outstanding," the prime minister said. “If we do not count the performance capabilities of our four countries, there is practically no economic growth within the European Union. Central Europe is Europe’s safest and most rapidly developing region"
The jobless rate of 4.2 percent “after a steady decline in the unemployment rate for 61 months, is due to the substantial growth of the economy and the government’s successful employment policy," according to the ministry for National Economy
Hungary's foreign minister said that the investment was a joint step towards moving the Hungarian economy and Hungarian industry forwards into a new dimension, a digital era based on research and development and innovation
“If investment growth is sustained, even if not at such a high pace, the investment rate will also grow, which in turn boosts job creation and helps secure the targeted economic growth rate of 4 percent in 2017 and 2018," Hungary's economy minister said
RUAG is one of the world’s one hundred most important defense industry companies, and plans to manufacture fuselage elements for its Airbus 320 and Bombardier aircraft at its plant in Eger. The investment will create 180 new jobs. The government is contributing 382 million HUF in non-returnable funding towards the project