Coface: internal consumption is the engine of economic growth in Hungary

In Hungary, the engine of economic growth will be primarily internal consumption, mainly due to the decline in unemployment, the increase in disposable income – according to the fresh analysis of Coface credit insurer.

The dynamic labor market, the reduction of personal income tax and value added tax, the expansion of private consumption are also contributing to the strengthening of internal consumption that will be the main driver of the Hungarian economy. The Hungarian economy is developing steadily, thanks to European Union funds – they added. (MTI)