Márton Nagy: retail trade and food consumption have picked up, tourism has grown by 15 percent

By: Trademagazin Date: 2024. 04. 17. 12:10

Economic growth will start again next year: after this year’s 2.5 percent, a 4.1 percent expansion is expected in 2025, the Minister of National Economy said on Wednesday in Debrecen, at the first stop of the national business development event series “With your business – Everything worth knowing about the future”.

Márton Nagy emphasized that for growth, consumption and investments must be restored, labor market activity must be increased, lending and export activity must be improved.

In his presentation to entrepreneurs at the headquarters of the Hajdú-Bihar Chamber of Commerce and Industry, the head of the ministry said that the success of the electric transition in the vehicle industry is essential for the Hungarian economy.

According to his words, four of the five conditions necessary for the restoration of economic development can already be “ticked off”, that’s where the shift can be seen.

First of all, he mentioned the recovery of consumption: according to February data, retail trade and food consumption picked up, and there was a 15 percent increase in tourism, primarily in the field of domestic travel.

The situation with investments is similarly encouraging: until now, the processes have slowed down due to the decrease in consumption, but we can already see the revival, and the multinational companies are completing the developments, so in Debrecen, for example, production can start next year at the BMW car factory and the CATL battery factory – he listed.