Márton Nagy: the reduction of inflation is due to the choice of the right tools

By: Trademagazin Date: 2024. 02. 16. 11:34

The rapid reduction of inflation is due to the fact that the government used the best tools, realizing the importance of fiscal and regulatory policy in stopping unfavorable processes, the Minister of National Economy said at the event of the Hungarian Compliance Academy in Budapest on Thursday.

According to Márton Nagy, Hungary’s energy import, which is primarily necessary for domestic supply and is very large in comparison with Europe, led to the stagnation of inflation. Eliminating energy dependence is a longer-term task, but thanks to the use of nuclear and solar energy, it can be achieved in the next decade. Among the immediate measures, he singled out utility protection, which eased the population’s burdens, as well as changing companies’ fixed energy contracts, which saved many thousands of companies from a situation less favorable than the market.