Gergely Gulyás: retail turnover has been growing for 13 months, and domestic tourism broke all records last year
The government is optimistic because the Hungarian economy is on the verge of serious growth, the minister leading the Prime Minister’s Office stated on Thursday in Budapest, on Kormányinfo.
Gergely Gulyás reported that at the cabinet meeting on Wednesday, he listened to a longer analysis by the Minister of National Economy, which “was a situation assessment that gave cause for optimism after the difficulties of recent years”.
The minister said that the chance of ending the war within the foreseeable future is significantly greater now than at any time before, but regardless of this, signs of a turnaround are also showing in the Hungarian economy, and they are tangible.
He added that the Hungarian economy has been severely affected since 2022, primarily by the consequences of the war, sanctions, and inflation, which also had an impact on growth last year.
He highlighted the record-high employment of 4.7 million, the increasing real wages, the expansion of consumption and retail turnover last year, and the increase in household loans.
He spoke of the great achievement of creating more than one million new jobs, 1.1 million compared to 2008-2009.
He said that there is no final data yet, but last year the real wage increase in Hungary was around 10 percent. The three-year wage agreement guarantees that there will be a significant real wage increase of 5-6 percent this year as well, he added.
Related news
KSH: industrial production decreased by 4.9 percent in June compared to the same period of the previous year and by 1.2 percent compared to May
In June 2025, the volume of industrial production fell by…
Read more >MBH quick analysis: Industry performance remains subdued
Industry continues to deliver weak figures: in June, industrial production…
Read more >Research: There is a huge gap between tourists’ environmental awareness and their actual travel habits
Although more and more tourists consider themselves environmentally conscious, this…
Read more >Related news
62,700 purchases – all previous records broken at ALDI’s Sziget store
ALDI has set up a pop-up store at the Sziget…
Read more >The world of Minecraft comes to life in SPAR stores
The characters from one of the world’s most well-known and…
Read more >Ministry of Agriculture: Hungarian farmers can always count on the national government
Hungarian farmers are one of the government’s most important allies,…
Read more >