According to a first reading of data released by the Central Statistical Office (KSH) on Tuesday, Hungary’s economy grew by an annual 6.1 percent in the third quarter, slowing from 17.8 percent in Q2. Adjusted for calendar year and seasonal effects, GDP in the third quarter increased at the same rate. KSH said quarter on quarter, GDP edged up 0.7 percent, while in Q1-Q3, growth was an annual 7.1 percent.
Finance Minister Mihály Varga welcomed the growth figure, saying it indicated the economy was on a dynamic growth path. With a record growth of almost 18 percent in Q2, the economy has surpassed pre-pandemic levels, he said, adding that Hungary’s growth rate was above the EU average. “All this shows that a supportive budgetary policy is now bearing fruit and the government’s measures are contributing to the economy’s relaunch while mitigating negative external impacts,” he said. The minister also noted that the government was expecting a record 6.8 percent growth for the full year.
Photo credit: Facebook/Varga Mihály