NGM: the “150 new factories” program helps restore industrial production
According to data from the Central Statistical Office, the volume of industrial production in March 2025 remained at the level of the same month of the previous year, while adjusted for working days, it was 5.4 percent lower than a year earlier. Based on seasonally and working day-adjusted data, industrial output was 0.1 percent higher than in February 2025, the Ministry of National Economy (NGM) cited the latest data in its statement on Thursday.
Of the most important sub-sectors, vehicle manufacturing, computer, electronic, optical product manufacturing, and food, beverage and tobacco product manufacturing expanded compared to the same period in 2024, the ministry wrote.
According to the NGM, the performance of domestic industry continues to be held back by negative external factors. “The weakness of our foreign markets, especially the prolonged crisis in Germany, limits the performance of the export-driven Hungarian economy, including industry,” they emphasized.
The NGM added:
“The European Union has been pursuing a flawed economic policy for a long time, while giving all the available money to Ukraine. The government is constantly working to achieve the highest possible economic growth despite these negative factors. To this end, the government announced the “100 new factories” program, which it increased to 150, thus ensuring the recovery of domestic industry and strengthening investment activity,”
– it emphasized.
The program plays a significant role in increasing the performance of the economy, while also supporting domestic businesses and job creation. In addition, Germany’s 500 billion euro infrastructure investment program and the country’s budget easing may result in increasing external demand for the Hungarian economy.
Related news
KSH: in July, consumer prices exceeded the values of the same month of the previous year by an average of 4.3 percent, and those of June by 0.4 percent
In July, consumer prices were 4.3 percent higher on average…
Read more >NGM: SZÉP card holders spent 44 billion forints in June
The SZÉP card, following the record year of 2024, is…
Read more >KSH: retail turnover in June exceeded the same period of the previous year by 3.0 percent and the previous month by 0.5 percent
In June 2025, the volume of retail sales increased by…
Read more >Related news
According to the GVH’s investigations, retail is not the culprit in price increases.
It is not the retail trade that is responsible for…
Read more >Nestlé remains the world’s most valuable food brand, according to Brand Finance
Nestlé has been the world’s most valuable food brand for…
Read more >Back to school: families plan with an average of 50-75 thousand forints
According to a recent survey by REGIO JÁTÉK, starting school…
Read more >