It is in the interest of every stakeholder of the Hungarian economy to be able to work in a predictable environment, Minister for National Economy Mihály Varga said at the general meeting of the Hungarian Joint Venture Association.
The Minister pointed out that the latest measures of the Cabinet, such as the MoU concluded with the EBRD, the 2016 Budget and the related tax bill have reinforced trust in the Government’s economic policy.
Speaking of economic achievements, the Minister said that last year Hungary was the country with the second-fastest growing economy within the EU and the fastest among the Visegrád Four. The European Commission, the IMF, the OECD, major international economic think-tanks and market analysts share the view of the Government on the outstanding performance of the Hungarian economy.
Mihály Varga singled out the latest finding of Fitch Ratings, stating that Hungary’s level of debt has decreased significantly and lower exposure allows Government measures to take dull effect. In light of better-than-expected macro-economic processes this year the Cabinet anticipates that Hungarian economic growth may exceed 3 percent of GDP this year. This expectation was also expressed in the Convergence Programme. Accordingly, the Minister added, this year’s economic growth estimate has been revised from 2.5 percent to 3.1 percent.
Mihály Varga stressed it is evident that the improvement has not been temporary and it is not the result of new debt, but the country has been on a steady and sustainable growth path.
(Ministry for National Economy)
