In case demand on external car markets falls, it would adversely affect Hungary’s industrial output and exports. Therefore, the Government has been closely monitoring the VW scandal, Minister for National Economy Mihály Varga said at a conference organized by the European Institute in the building of Hungary’s parliament. The fact that the composition of Hungarian exports is becoming more and more diversified is highly favourable, as it reduces the economy’s vulnerability.
Mihály Varga added that along with the VW scandal, the slow-down of the Chinese economy is also posing grave risks; however, he expressed optimism concerning the outlook of the Hungarian economy.
Among the cornerstones of the Government’s economic policy the Minister highlighted that it clearly and plainly defines economic policy goals; it formulates a budget and operates a regulatory system that provide economic stakeholders with security and predictability; it eases access to development funding as much as it can and it does everything in its power to provide people with marketable skills and knowledge thus enabling them to make a living.
The Government, he noted, also achieved something that had seemed almost impossible some years ago: the Hungarian Government, the European Commission, the IMF, the OECD and market analysts all share the same opinion of the highly impressive performance of the Hungarian economy.
(Ministry for National Economy)
