NGM: savings and consumption are expanding in long-terms

Balogh László, Deputy Minister of State of the Ministry of National Economy (NGM), responsible for Finance Policy told that savings and consumption turned into the right direction in Hungary, their expansion is a long-term trend and this trend will surely continue until the end of the year and in 2016 – the government hopes.

Balogh László, pointed out that non-food sales grew by nearly 10 percent, but now the households do not buy the durable consumer goods, electronic equipment and clothing goods from currency loans, but from higher labor income and savings. He added that the data shows that retail sales are so high as in the first quarter of 2006. (MTI)