Hungary investment volume on the rise

Investment volume in Hungary rose by an annual 18.8 percent in the second quarter, the Central Statistical Office (KSH) said on Thursday.

In absolute terms, investments came to 2,400.3 billion (EUR 7.28bn) forints during the period.

Construction investments increased by 22.3 percent, reaching 1,381.3 billion forints. Machinery investments climbed by 15.2 percent and stood at 996.8 billion forints.

Manufacturing sector investments jumped 29.7 percent, reaching 618.7 billion forints. Investments in the logistics sector were up 19.7 percent at 397.7 billion forints. Real estate investments increased by 14.6 percent to reach 381.2 billion forints.

Private sector investments were up 30.7 percent at 1,429.9 billion forints. Public sector investments increased by 20.9 percent to 353.1 billion forints.

Commenting on the data, Gábor Gion, state secretary at the finance ministry, said the dynamic expansion pointed to a stimulating business environment in the country.

Currently, capacity expansion investments to the tune of 3,300 billion forints, or 8 percent of GDP, are under way in Hungary, he said. This points to further economic expansion in the future, he said.