The Hungarian government’s goal is for Hungary to be among Europe’s five most competitive and most liveable countries by 2030.

Tamás Schanda, the newly appointed Parliamentary State Secretary of the Ministry for Innovation and Technology said the Hungarian GDP data indicates an extremely high growth rate also on a European level. In the first half of the year, the gross domestic product increased by 5.1 per cent, which is almost four times the average growth recorded in the European Union, and the goal is that the rate of the Hungarian economy’s growth exceed the EU average by two percentage points every year.

It is an important achievement, he pointed out, that in the second quarter of this year the volume of investments in the national economy increased by 18.8 per cent compared with last year’s corresponding period. It is a positive sign that state, municipal and private investments have all increased dynamically, and Hungarian businesses continue to maintain their high investment level which has elevated us to the vanguard of EU Member States. Compared with 2010, 800,000 more people have jobs in Hungary, and meanwhile wages have been on the increase for seven years continuously, the State Secretary listed.

He added that it is an outstanding result both regionally and on an EU level that Hungary has already withdrawn 39 per cent of the available EU funds. “It is also becoming increasingly evident that Central Europe is the engine of European growth, and the region’s success is a factor that determines the entire continent’s competitiveness,” he stressed.

In his view, the election of Ursula von der Leyen and László Trócsányi’s important portfolio indicate that Hungarian politics is successful in the European Union, and has attracted followers.

The pace of GDP growth in the V4 region is much higher than in Western European Member States. As a result, the role of the region’s economy will increase, and therefore the quality of transport networks is key. The goal is that by 2030 it should be possible to reach a high-speed road connection within 30 minutes from any part of the country.

Regarding the installation of the 5G system, he said today Hungary is ranked eighth in the world in download speed. It is clear that we need further technological development also on account of the changes that are taking place in industry, and therefore a 5G strategy will soon be completed and presented to the government.

He observed concerning his new position that the Ministry for Innovation and Technology is the most powerful ministry in Hungary’s economic history. He supervises a number of policy areas, and coordinating these activities is a complex task. “The responsibilities of the Ministry for Innovation and Technology are about our common future as we Hungarians would like to be winners of the future. This is what I will have to work on myself,” he added.

He mentioned that one of the most important points of the economy protection action plan was that HUF 32 billion additional funding will be available for research and development, and they would like more research from more funding.

(Ministry of Innovation and Technology/MTI)