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Sep 16, 2020

Finance Minister: Top priority is to make sure the Hungarian economy stays afloat during pandemic

The finance minister said the top priority of economic policy during the second wave of the coronavirus epidemic is to make sure the Hungarian economy stays afloat and that jobs and enterprises are protected and supported.

 

The finance minister said the top priority of economic policy during the second wave of the coronavirus epidemic is to make sure the Hungarian economy stays afloat and that jobs and enterprises are protected and supported.

Addressing the annual general meeting of the Joint Venture Association (JVSZ), Mihály Varga said the government will unveil new measures to protect the economy in the next few weeks. The minister said the economy was now more resilient to knocks and more stable than in 2008, and the policymaking of recent years combined with timely protection measures had gone a long way towards insulating the Hungarian economy from the kind of bigger shocks seen elsewhere in the European Union. Hungary, he said, must return to growth as soon as possible, adding that this aim may be achieved next year.

The country’s operative board for protecting the economy was established with the main aim of removing obstacles to growth, and the board will continue the work it began in the summer, he said. Varga said that whereas the public debt would rise this year, it would start easing again next year. Domestic investors are playing a greater role in financing the public debt, he said. The government aims to ensure that Hungarian businesses emerge stronger from the crisis, the minister added.

Photo credit: kormany.hu