Hungary’s economic achievements have created the preconditions for our plans aimed at boosting growth and increasing competitiveness, Minister for National Economy Mihály Varga said at a conference marking the European Day of Commerce. As the Minister pointed out, our economic performance has also been shaping consumer confidence, as the consumption of families has been improving.
The Minister stressed that sales volume at retailers has been up for the 39th consecutive month. In September, for example, the sales volume grew by 5.1 percent compared to the same period of the previous year. The volume of internet retailing has more than doubled in the past five years, and in value it has exceeded a major threshold, HUF 300bn.
The Ministry is negotiating with professional organizations in order to prepare retailers for the challenges posed by a rapidly growing e-trade sector and a constantly changing business environment. In the sector, the number of employees grew by 5.9 percent, while labour demand has also increased, Mihály Varga said. Wages in the sector were up by 7.3 percent in the initial eight months of the year, well above the average wage growth of 5.3 percent recorded in the private sector.
(Ministry for National Economy)
