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Sep 13, 2017

Hungary spends more on its education system than the OECD and EU averages

Hungary's education spend has increased continuously since 2015, and while the allocation earmarked for education amounted to 1,386 billion HUF in 2013, according to estimated data, this sum will be in excess of 2,100 billion HUF next year

Hungary spends more on its education system than the OECD and EU averages, it has been revealed.

László Palkovics, minister of State for Education, said that in 2015 there were 81 percent of three-year-olds attending kindergarten in Hungary, while the OECD average was 78 percent. What's more, Hungary's number for four-year-olds was 95 percent compared with 89 percent in the OECD countries.

Palkovics said that the chances of young people with secondary qualifications of finding jobs has changed for the better in the past ten years compared with the OECD’s average. In the young people with degrees category, unemployment is the lowest in Hungary at 2.5 percent compared to other Member States of the OECD.

"Hungary has one of the best percentages among young people with vocational qualifications as well. The report highlights that this is fundamentally thanks to the strong and integrated education system," the minister said.

The minister added that if a person has technical, science or IT qualifications in Hungary, they have a much better chance of finding a job than the OECD average.

He also highlighted that a degree continues to remain a good investment in Hungary, and our country is among the best as regards the returns on this investment.

He highlighted how Hungary's education spend has increased continuously since 2015, and while the allocation earmarked for education amounted to 1,386 billion HUF in 2013, according to estimated data, this sum will be in excess of 2,100 billion HUF next year..