NGM: economic stimulus programs are launched

By: Trademagazin Date: 2024. 01. 09. 11:57

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

The war and sanctions caused significant damage to the economy, and the weak European economy and thus overall weaker demand contributed negatively to the development of industrial performance. According to data from the Central Statistical Office (KSH), the volume of industrial production decreased by 5.8 percent on an annual basis in November 2023, and by 2.3 percent compared to the previous month – the Ministry of National Economy (NGM) drew attention to the latest report.

However, as a result of the government’s measures and the improvement of the international economy, an increase in the volume of industrial production is expected in the coming months.

This is also projected by the domestic and European manufacturing sentiment and purchasing manager indices. The expected turnaround of the domestic industry is supported by the invigorating internal demand, the growth path of real wages, the significant increase in minimum wages and minimum wages brought forward, falling inflation, but the interest rate cap and the banks’ voluntary interest rate ceiling, which are both corporate and it is also reflected by the revival of housing loan placements – listed the NGM.

In addition, the decrease in energy and raw material prices can make the production of energy-intensive sectors easier, which is also supported by information about individual large companies. 2023 was the year of breaking inflation, 2024 will be determined by the restoration of economic growth, the ministry confirmed.