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Sep 06, 2018

Hungary’s economic growth likely to be between 2.5 and 3 percent

Mihály Varga said structural changes in recent years have facilitated “sustainable dynamic growth independent of European Union funds“

The finance minster reports that Hungary’s potential economic growth could be between 2.5 and 3 percent.

Mihály Varga told Magyar Demokrata that structural changes in recent years have facilitated “sustainable dynamic growth independent of European Union funds“.

The minster added that wages in Hungary are on an upward trend, which boosts domestic consumption while investments are also on the increase.

According to MTI, he said that the EU environment “has not been this good for a long time” and that the export markets also support the domestic economy.

On another subject, the minister said that resolving the problems in the health sector “is not just a question of money”.

He said that in recent years the government has spent “several hundred billion” forints on hospital refurbishment, but added that the problems are mostly rooted in low efficacy of mobilizing resources and efficient use of equipment. He also added that in the future, increased focus would be paid to prevention, with special regard to screening programs and awareness campaigns.