Along with Latvia, Denmark and Austria, Hungary is one of four EU member states where central government debt has been edging lower since 2011. International investors and credit rating agencies have also acknowledged the achievements of the Hungarian economy.
Zoltán Kovács, the government’s international spokesperson discussed the improvements the Hungarian economy has made since joining the European Union. He emphasized that the country has managed to bring down the budget deficit below 3%, and the unemployment rate has dropped to 7.3% this year.
At the South Korean-Hungarian business forum held on Friday in Seoul, Prime Minister Viktor Orbán encouraged South Korean companies to take advantage of the opportunities provided by Hungarian economic strategy and to invest in Hungary.
During the course of his visit to Egypt, Minister without Portfolio for National Policy and Deputy Prime Minister Zsolt Semjén held negotiations with high level officials and religious leaders on strengthening political, economic and social relations.
“Europe’s immediate environment is suffering repeated crises, which must be handled to assure the security of the international community”, Minister of State for Public Administration István Dankó of the Ministry of Defence said at the conference entitled NATO 2014: The Alliance after the Wales Summit, held in Budapest today.
According to the latest Eurostat data, unemployment fell to 7.3 percent in Hungary. Over the past one year, Hungary recorded the largest fall in unemployment among the EU member states. With regard to these statistics, Hungary has been on the top of EU ranking since February 2014. Unemployment rate averaged 11.5 percent in the 18 member states of the euro zone and 10 percent in the EU28.
Dynamic investment growth has continued in Hungary: the 16.3 percent year-on-year increase in Q3 2014 marked the sixth consecutive quarter of growth. In the initial three quarters of the year, Hungary received investment of HUF 3400bn, up by 20 percent over the past one year. These data confirm that investment has contributed to Hungary’s economic growth in an outstanding manner.
Deputy State Secretary Kristóf Altusz travelled to Estonia on Wednesday, 26 November. During his visit, he met with Mart Laanemäe, Deputy State Secretary of the Ministry for Foreign Affairs of the Republic of Estonia and Paul Teesalu Political Director of the Ministry for Foreign Affairs of the Republic of Estonia.
According to Prime Minister Viktor Orbán, with the new leadership elected for the coming five years, Europe has the chance to start a policy with which the continent may regain its competitiveness, economic growth and position in the world economy and become permanently successful again.
Prime Minister Viktor Orbán started negotiations in South Korea on Thursday. On his first day he held talks with South Korean business leaders about potential investments in Hungary.