Mihály Varga: the Hungarian economy is back on the growth track

By: Trademagazin Date: 2024. 05. 01. 12:42

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The Hungarian economy returned to the growth path in the first three months of the year, GDP increased by 1.7 percent on an annual basis and by 0.8 percent compared to the previous quarter, said Finance Minister Mihály Varga in a Facebook message, according to the GDP released by the Central Statistics Office (KSH) on Tuesday morning. in response to your data.

He explained: the growth was helped by the fact that employment is at a record level, real wages are rising, consumption has started, the construction industry and tourism are also performing better and better.

According to his expectations, the Hungarian economy may expand by 2.5 percent throughout the year, and next year – according to the forecasts of the European Commission and the IMF – it may be at the top of the EU growth ranking.