NGM: Hungarian economy performed better than expected

By: Trademagazin Date: 2025. 02. 03. 11:30

The Hungarian economy performed above expectations in the last quarter of last year, with GDP growing by 0.5 percent, André Palóc, spokesperson for the Ministry of National Economy (NGM), said in the Kossuth Radio program Good morning, Hungary! on Monday.

He added that expectations were around 0.2-0.3 percent. The turnaround that the government talked about has now really started, with growth of around 3 percent expected in the second half of this year.

The growth is visible by looking at data on employment, consumption, tourism, the credit market, wages, the housing and car markets, he said. The 21-point economic policy action plan supports further growth, its aim is to help families and small businesses, and as a means of this, “4 thousand billion forints will be mobilized,” he added.

The government’s most important goal now is to broaden and strengthen the middle class as the economy develops, he emphasized.