Nagy: Government aims to protect Hungary’s investment- and export-led economy
Thanks to levying a tax on excessive corporate profits, the government managed to protect consumers, said Márton Nagy, the minister of economic development.
Thanks to levying a tax on excessive corporate profits, the government managed to protect consumers, said Márton Nagy, the minister of economic development.
Hungary and Uzbekistan had agreed earlier this year to set up a 50 million euro joint strategic equity fund to support Hungarian market players operating in Uzbekistan.
The government and Liberty Steel are cooperating closely on ensuring the stable operation and development of Dunaferr.
Minister Nagy said the government had introduced effective measures to reduce inflation, such as compulsory price cuts for retailers and an online price monitoring system.
South Korean companies formed the biggest group of investors in Hungary last year, ploughing around 1,100 billion forints (EUR 3bn) into the country.
The measure, aimed to protect families and pensioners and to offset the fallout from the war and the consequences of sanctions on Russia, comes with an online price monitoring system to be introduced in July.
The economic development ministry said in a statement that consultations focused on finalizing the details of the draft decree. Mandatory discounts on products would be in force from June 1 until September 30.
Hungary's March inflation data was in line with the government’s expectations, having peaked in January before falling.
Minister Nagy said Hungary’s economy should be built on investments, which required a constant stream of foreign capital, modernization and research and development.
Márton Nagy told a conference that Hungary had a good chance of receiving EU monies and cohesion funds by the summer.
Minister Nagy met with Mercedes-Benz Manufacturing Hungary CEO Christian Wolff, CFO Karsten Twele and PR director Sándor Dávid.
Hungary’s trade with Georgia has developed over the past years to record levels, with bilateral trade in goods totalling now 90 million euros.
Minister Nagy said the government’s efforts to curb inflation will start coming to fruition.