Márton Nagy: the performance of the food industry “will be fine”

By: Trademagazin Date: 2024. 03. 20. 12:01

We must return to the previous path of convergence and restore financial stability and the balance of the budget, said Minister of National Economy Márton Nagy on Wednesday in Budapest, at the Exim Awards gala.

Economic growth of around 3 percent is expected this year, which may rise to 4 percent next year, while the budget deficit may fall below 3 percent by 2026 from last year’s 6.5 percent. By 2026, the Hungarian economy can once again reach the performance of the last year of peace, with 4 percent growth, a deficit and inflation below 3 percent, a positive balance of payments and, hopefully, a low central bank interest rate, he emphasized.

Regarding the growth prospects for 2024, he said that the domestic economy – food, construction, trade, logistics – “will perform OK”, the big question is exports, which depends on the German and European economic prospects, as well as the future of electric cars, which “not as certain as half a year ago”.