GFM: the volume of investments also increased significantly in the field of agriculture

By: STA Date: 2023. 05. 31. 10:30

According to the data of the Central Statistical Office (KSH), in the first quarter of 2023, the amount of investments decreased by 2.8 percent on an annual basis. The result was significantly influenced by the fact that the government ordered an investment stop last year due to the difficult situation caused by the war and the failed sanctions, so in the first quarter the developments in the national economic branch of the public administration decreased by about 34 percent – Máté Lóga of the Ministry of Economic Development commented on the latest data in his statement on Tuesday ( GFM) State Secretary responsible for economic development and national financial services.

He added that in the first quarter of 2023, at the same time, the volume of investments in real estate transactions, the manufacturing industry, and agriculture increased significantly. In the case of real estate investments, the significant increase in energy modernization represented a decisive weight, in the manufacturing industry, primarily the performance of vehicle production, while in the case of agriculture, the increase in machinery and vehicle investments can be highlighted. All of this contributed to the fact that in the first quarter of 2023, the volume of investments increased by 1 percent compared to the previous quarter, Máté Lóga pointed out. According to the announcement, in order for Hungary’s economic catch-up to continue, for families and jobs to be safe, and for our country to avoid recession and achieve 1.5 percent GDP growth in 2023, the investment and export-based economic policy must be further strengthened. The government’s programs, such as the Gábor Baross reindustrialization loan program, the Gábor Baross capital program and the Széchenyi Card Program, serve this purpose as well, which make more than HUF 3,100 billion of liquidity available to businesses, thus contributing about 2 percentage points to the economy together with the interest rate cap expansion. In addition to all of this, the inflow of foreign working capital and the reinvestment of the resulting profits must be encouraged – added the state secretary.