NGM: the “150 new factories” program helps restore industrial production

By: Trademagazin Date: 2025. 05. 08. 11:04

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.