Government: Hungary’s economic recovery among the fastest in the European Union!
Change language:
Hungary’s second-quarter GDP grew by an annual 17.9 percent after a double-digit decline in the base period, a first reading of data released by the Central Statistical Office (KSH) on Tuesday shows.
Adjusted for seasonal and calendar year effects, GDP climbed by 17.7 percent. In a quarter-on-quarter comparison, GDP rose by a seasonally- and calendar year-adjusted 2.7 percent. KSH noted that unadjusted GDP was 2.2 percent higher than in Q2 2019, before the start of the pandemic.
First-half GDP was up by 7.6 percent year on year.
Finance Minister Mihály Varga said in a message posted on Facebook that the fresh data show the economic recovery in Hungary is moving forward at a pace that is “among the fastest in the European Union”.
He said
the structure of growth is “healthy”
and extends to “a broad range of economic sectors”. Pandemic-related government measures to aid the recovery could contribute 8.4 percentage points to economic growth this year, he said.