The economy is turning around, 2025 will be the year of breakthrough

By: Trademagazin Date: 2025. 02. 21. 11:41

This year will be a breakthrough year; there are at least eight factors, including employment, that they see the economy turning around, the Minister of National Economy said at the Joint Venture Association (JVSZ) company awards ceremony in Budapest on Saturday evening.

Minister of National Economy Márton Nagy gives a speech at the Joint Venture Association’s Companies for the Future Award 2025 gala at the Buda Castle Riding School on February 22, 2025. MTI/Zoltán Kocsis

At the association’s Companies for the Future Award event, Márton Nagy was the first to mention the eight factors, namely that the country has 4.7 million employees and a low unemployment rate. He named the issue of real wages as the second factor: currently increasing by 5 percent

At the association’s Companies for the Future Award event, Márton Nagy first mentioned among the eight factors that there are 4.7 million employed people in the country and the unemployment rate is low. He named the issue of real wages as the second factor: currently increasing by 5 percent this year, after a 9 percent increase last year.

He also listed among the factors helping the economic turnaround that consumption is increasing significantly, tourism is booming, housing transactions are increasing, the order book in the construction industry has increased by more than 16 percent and the car market has also started up.

The minister pointed out that those sectors where internal demand is the most important will start up the fastest, such as the construction industry, the pharmaceutical industry, and partly logistics and the food industry.