Hungary has plenty of work to do in the regional “long-distance running”

By: Trademagazin Date: 2024. 04. 18. 13:45

Based on the ten- and twenty-year trends – one of the most important indicators of which is GDP per capita measured at purchasing power parity – the Hungarian economy is weaker compared to other countries in the region. Hungary is now three-quarters of the EU average, while the Czech Republic has 91 percent, Poland 80 percent, Romania 78 percent, and Slovakia only 73 percent. In order for Hungary to catch up more quickly, it is necessary to move in the direction of a qualified, high-quality workforce.

In recent decades, the Hungarian economy has continued to catch up with the EU average, but it is lagging behind at the regional level and the prospects are not too favorable considering the trends so far – according to a recent compilation by Dávid Németh, the leading analyst of K&H, which is one of the important catch-up indicators, the examined the performance of Hungary and the countries of the region based on the development of GDP per capita measured at purchasing power parity.

List from the region, with weak Hungarian results

“Hungary is currently three-quarters of the EU average, compared to 69 percent ten years ago. The growth is favorable, but at the same time, the current Hungarian result lags behind the indicators of most countries in a regional comparison”

said the specialist.