Mihály Varga: standing on more than one foot is one of the keys to the success of the Hungarian economy

By: Trademagazin Date: 2024. 05. 23. 12:00

One of the keys to the success of the Hungarian economy is standing on more than one foot, to which modern industry, research and development and the green economic transition all contribute – said Finance Minister Mihály Varga on Wednesday evening in Győr, at the award ceremony for the Gábor Baross – Győr Economy award.

The head of the ministry emphasized: Győr is at the forefront of Hungary’s economy transitioning to a circular economy, which reduces the amount of energy used, the amount of waste, and production costs. This makes it possible to build an economy that will allow the country to stand on its own two feet, he added.

Efforts must be made to ensure that, when more difficult times come, Hungary is able to create its own supply chains, among others in the health industry or the food industry, said Mihály Varga.

He added that efforts should also be made to strengthen those key sectors that are able to operate in a future-oriented manner. Mihály Varga emphasized: in recent years, it has been proven that Hungary is capable of extensive growth. Now our task is to move into the intensive era, when we are able to prove in research and development and innovation that we can not only manufacture, but also develop, invent and create things – he said, adding that this is one of the 2020s most important task.