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Dec 06, 2019

FM: Central Europe has become the engine of European economic growth

“The significance of Central Europe has increased continuously in recent years, and it has become the engine of European economic growth,” Minister Szijjártó said.

Central Europe has become the engine of European economic growth, the foreign minister has said at the Japan External Trade Organization (JETRO) conference in Tokyo.

“The significance of Central Europe has increased continuously in recent years, and it has become the engine of European economic growth,” Minister Szijjártó said. "There is a successful and strong alliance in Central Europe, the Visegrád Group. The economic growth of the V4 is over twice the European average, but this group is not only strong from an economic perspective, but also politically."

Minister Szijjártó said that rational policies based on common sense are the key to Central European success, which in economic terms means that the region has the lowest level of taxes. At the same time, these countries all have tight fiscal and monetary policies, disproving the old belief that economic growth and fiscal discipline are mutually exclusive.

The minister also said that while many European economic analysts point out the importance of French-German economic relations, the trade between Germany and the Visegrád Group is in fact 70 percent higher than the German-French number.

Minister Szijjártó added that Japan is the primary Asian investor in Hungary, with 170 Japanese companies employing 35,000 people in the country.

Photo credit:lokal.hu