Head of Hungary’s Fiscal Council praises country’s ability to reduce public debt
Árpád Kovács told public radio on Wednesday that the Visegrad Group (Czech Republic, Hungary, Poland and Slovakia) generally “work with” low public debt.
Árpád Kovács told public radio on Wednesday that the Visegrad Group (Czech Republic, Hungary, Poland and Slovakia) generally “work with” low public debt.
“Investments in infrastructure, human capital and structural reforms will support long-term growth while boosting private investment,” the finance minister said.
Hungary's public debt dropped well below 70 percent of gross domestic product by the end of the second quarter, representing an eleven-year record.
Hungary’s public debt has fallen by 10 percentage points since 2010 and GDP growth in 2018 hit a 15-year high.
Optimism among business leaders and consumers in Hungary has reached a 20-year high, according to a recent survey.
Hungary among the few EU member states that have reduced government debt since 2011
István Székely, director of the European Commission’s Directorate-General for Economic and Financial Affairs, said Hungary's stable economy belongs to the "healthier half” of the EU member states