Mihály Varga: the economy is entering a phase of intensive development

By: Trademagazin Date: 2024. 05. 20. 12:02

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Having closed the extensive era, the Hungarian economy is increasingly moving into the phase of intensive development, when the added value increases significantly, said the Minister of Finance in Kaposvár, where he assured his support for the planned smart industry investment in the city.

Mihály Varga emphasized at the press conference held at the site of the future Science and Innovation Park that the Hungarian economy has proven that it is capable of producing high-tech products.

In the past ten years, the goal of one million more people having a job in the Hungarian economy was achieved, the extensive stage of development created the opportunity for more and more research and development to come to Hungary, he added.
He said that the government supports the value-added developments of universities. For this, institutions are given as much autonomy as possible and resources are allocated to the planned programs.

He emphasized that, thanks to the change of model, more and more universities are in a more favorable position in international comparisons. The model change is “a fruitful process that should not be hindered – as they do from Brussels – but encouraged,” he said.