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Nov 17, 2017

Hungary's economy is gaining strength, significant growth expected through 2017

“Hungary is continuously doing better, economic growth is higher than the European Union average and we can expect significant growth over the remainder of the year as well,” said the minister heading the Prime Minister’s Office

Hungary’s economy is gaining strength and the future will bring significant growth, János Lázár, the minister heading the Prime Minister’s Office, has said.

“Hungary is continuously doing better, economic growth is higher than the European Union average and we can expect significant growth over the remainder of the year as well,” he said.

The minister noted that the government saw GDP growth thus far in 2017 at 4 percent, and a low rate of unemployment well below the EU average.

Lázár also said that the government expects Hungary’s debt-to-GDP ratio to fall below 70 percent by 2019. He added that Hungary is now repaying loans that “the Socialists had taken out between 2002 and 2010”.

On the topic of the 12,000 HUF (38 EUR) year-end premium promised to pensioners, the government office chief said pensioners should also benefit from the country’s success.

He also said that the national postal service will begin preparations for delivering the end-of-year bonus of 10,000 HUF in Erzsébet vouchers to pensioners at the end of the month.