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Mar 04, 2020

European Commission recognizes Hungary’s economic achievements

Hungary is the EU’s GDP growth champion after coming close to 5 percent growth last year.

The European Commission has recognized the Hungarian government’s economic achievements in its latest country report.

László György, a state secretary at the innovation and technology ministry, said Hungary is the EU’s GDP growth champion after coming close to 5 percent growth last year.

The state secretary said Ireland could have the highest growth with Hungary second, but added that the detailed figures were not yet available.

György said that between 2013-2019, Hungary’s growth nearly doubled the average European rate, adding that the government continued to aim at a growth rate two percentage points above the EU average in the medium term.

The state secretary added that Hungary’s net external debt had been reduced from 52.6 percent of GDP in 2008 to 8.4 percent last year, while the state debt had been reduced to 66.4 percent, by 12 percentage points.