Foreign minister praises Hungary’s economic performance in Hong Kong

Within just ten years Hungary “became first from last” in terms of economic growth in the European Union, Foreign Minister Péter Szijjártó said at the Asian Financial Forum in Hong Kong on Monday.

At the end of last year,

Hungary had the highest growth rate among EU members, whereas in 2010 it had been placed 28th,

Szijjártó said.

The foreign minister praised the government’s “unorthodox” economic policy, fast adaptation of new technologies, as well as tax changes that all led to a higher growth rate. The government had made the strategic decision of continually cutting labour-related taxes and increasing wages, he added.

Referring to the government’s Eastern Opening strategy, Szijjártó said that the East has at least as great an impact on the global economy as the West. He noted that

38 percent of new jobs last year had been created by Chinese, Korean, and Japanese companies.

He added that Hungary was the first EU member to join China’s Belt and Road Initiative.

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Source: MTI