Finance Minister Mihály Varga told lawmakers in parliament on Wednesday that the Hungarian government's 2025 budget bill adopts a new economic policy that lays the foundations for lasting growth.
Presenting the budget during a plenary debate, Minister Varga said the 2025 budget contained all of the resources necessary to increase further support for families raising children, strengthen businesses, protect regulated utility prices for households, preserve the purchasing power of pensions, guarantee the physical security of the country and to continue to defend Hungary's borders from illegal migration.
The minister added that the budget could return the economy to the path of sustainable, high GDP growth while paving the way for dynamic wage growth and an increase in the purchasing power of incomes.
He said the government aimed to create more jobs, as well as preserve the 1 million created since 2010.
The budget bill assumes 3.4pc GDP growth and 3.2pc average annual invitation. It targets a general government deficit equivalent to 3.7pc of GDP.
Minister Varga said more than 300 new investments, worth a combined HUF 8,100bn, would be launched next year. Those projects will pump HUF 480bn into the economy in 2025, he added.