Gergely Suppan: the economy can be on a higher growth path

Gergely Suppan emphasized: Hungary’s conditions are right for economic growth to start again. He emphasized the stability of the labor market, the outstanding growth of wages and real wages, which creates the possibility for the expansion of consumption to continue.

The expert reminded that among the 21 points of the new economic policy action plan adopted by the government, the conclusion of a three-year wage agreement, the extension of the family tax allowance, and the worker’s loan help to increase the purchasing power of incomes.

Gergely Suppan recalled that the industry pulled back the economy this year, mainly due to the “weakening” of the German economy. They export from Hungary to German industrial exports; if German industrial production cannot recover, it may continue to have a negative impact on the Hungarian economy, he said. At the same time, he emphasized that a number of giga-investments will be handed over in Hungary next year, which will make a substantial contribution to growth.

The investment turnaround is supported by the Sándor Demján program, which helps domestic small and medium-sized companies. Eight points of this have already been announced, the measures will contribute to improving the productivity and efficiency of the SME sector – he indicated. He added that all these added together can already pull the Hungarian economy.

The leading economist of the Ministry of National Economy pointed out that they clearly insist that inflation can stabilize at 3 percent.