National economy minister: Hungary’s growth hindered by external factors, especially automotive decline
External economic factors, mainly the downturn in Germany’s automotive industry, are weighing on Hungary’s economic performance, National Economy Minister Márton Nagy said at an event organised by economy portal Világgazdaság in Budapest on Thursday.
Photo: MTI/Kocsis Zoltán
Nagy noted that domestic consumption was recovering after the impact of last year’s high inflation, and sectors dependent on local demand were performing well. He said GDP growth could climb to around 3pc with a pickup in consumption, but an increase in investments would also be needed in the long term. He added that investments were down in export-oriented sectors.
Read also:
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
Top Hungary news: Speed limits lowered, plant grown in lunar soil, motorway expansion, All Saints’ Day — 31 October, 2024
Hungary reaffirms Belarus partnership, advocates peace in Ukraine at Minsk meeting
Renting in Hungary: These are the most important things you should know as a foreigner
Orbán and Austria’s Kickl sign Vienna declaration for ‘patriotic’ European reform
VIDEO: Hungarian cinematographer behind Lady Gaga’s newest music video
Historic achievement: Hungary grows plants in lunar soil for the first time – PHOTOS
1 Comment
The Real Person!
The Real Person!
The BLAMERS – never through there IDIOTIC – Economic and Financial Policy’s – in this case lack of rightful INVESTMENTS principally from the DESK of Prime Minister – Victor Mihaly. Orban – and the “Dud” -Minister of Finance – Mihaly Varga.
This Ministers opinion, expressed in this article, the FABRICATION of true FACTORS – why in Hungary the word GROWTH hasn’t HAPPENED and Won’t Happen in the near to immediate FUTURE comes back to this Orban – Fidesz Government – FAILINGS.
GROWTH in a country’s Economy is a “pay back” a return to a GOVERNMENT that has made calculated and timely INVESTMENTS.
Hungary, over the 15 years, the Orban – Fidesz Government have been in POWER in Hungary, just NOT have FAILED in PRIORITIZING investment, which are the taxes paid predominantly by citizens, but they have FAILED investing into areas – industry, that for the FUTURE would have been WINNERS for Hungary, our Economy, our work-force numbers.
I say to Orban – his Fidesz Government – look at your own INVESTMENT(s) as a Government over 15 years and be TRUTHFUL with the citizens of Hungary, that in large – the use of our TAXES, the citizens of Hungary, your Government have MADE investment decisions – that have YEIDED no return in revenue – income into the Economy of Hungary, and FACTUALLY continue to be a DRAIN a negative – a DEBT on this country – Hungary.
This Orban led Fidesz Government – shifting BLAME – using PROPAGANDA and communicating out into the citizens of Hungary – the FABRICATION of Fact(s) and Truth – never accepting there HUMILIATING Failures, in the wrongful use of citizens our taxes paid and taken by the Orban – Fidesz Government – in INVESTMENT that GLEAM out at you in there “Mindless” dismissive in-ability to PRIORITIZE our money – our taxes they receive take from us is an ABOMINATION.
This FAILING has HURT deeply this country and continues on, that adds to the KNOWLEDGE the GROWING facts, this Orban led Government continue to DRIVE us – PUSH us to-wards as a country a place, an Economy that has gargantuan downside to it, that its NADIR – Vile & Ugly.
Orban – you and your Fidesz Government – you have NO leverage to MOVE – in the way you as Prime Minister and your Minister of Finance – Mihaly Varga – have sent our ECONOMY, like the Forint into an Unstoppable downwards FREE Fall.
It WILL all WORSEN.