The Government of Hungary has been aiming to make Hungary’s investment environment as attractive and predictable as possible, and in these efforts the Government continues to rely on the cooperation of German enterprises, Minister for National Economy Mihály Varga said at a conference organized by the Osteuropaverein der Deutschen Wirtschaft.
The Minister outlined major economic policy priorities through which the Cabinet aims to safeguard the sustainability of economic growth. In his speech, the Minister stressed that it is the region’s common objective to become the driver of the EU’s economic growth.
Mihály Varga briefly presented the four main cornerstones of future measures: the Government will focus on bolstering the sustainability of economic growth through accelerating the allocation of grants, facilitating lending activity, easing labour market regulations and stimulating investment as well as home building and refurbishment.
As Germany has been Hungary’s number one strategic partner from both a political and economic aspect, the Hungarian Government continues to rely on partnership with German companies, Mihály Varga stressed. He added that the support and cooperation of Germany, German enterprises and professional organizations operating in Hungary have been a major factor behind Hungary’s achievements of the past years.
The Minister also emphasised that the Government continues to place special emphasis on turning Hungary into an attractive investment destination for foreign companies. One of the instruments designed to reach this goal is creating a balanced and stable economic environment, which can provide safety for economic stakeholders.
Macro-economic and fiscal processes show that Hungarian reforms are working, Mihály Varga pointed out: GDP grew by 3.7 percent in 2014, well above the 0.8 percent growth in 2010 and the 1.4 percent average growth of the EU in 2014. Thanks to robust growth, Hungary’s economic output reached the pre-crisis level at the beginning of this year.
(Ministry for National Economy)
