• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Economy minister expects turn in construction output next yearEconomy minister expects turn in construction output next yearEconomy minister expects turn in construction output next yearEconomy minister expects turn in construction output next year
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Daily News Daily News · 09/12/2016
· Business

Economy minister expects turn in construction output next year

economy

Budapest, 2016. december 8. Varga Mihály nemzetgazdasági miniszter expozét tart az az egyes pénzügyi és gazdasági tárgyú törvények módosításáról szóló javaslat vitájában az Országgyûlés plenáris ülésén 2016. december 8-án. MTI Fotó: Máthé Zoltán

Budapest, December 9 (MTI) – Construction output this year came to a sudden halt on the back of the end of the European Union budgetary cycle but a turnabout can be expected next year, Economy Minister Mihály Varga said on Friday.

Construction plays an outstanding role in the Hungarian economy, representing 6.4 percent of GDP last year, Varga told an end-of-the-year meeting of the trade union of construction workers EVOSZ. There is considerable potential for improving competitiveness in the sector, he added.

Economic growth, corporate developments, new investment projects by the state and local councils, and growing personal incomes will help the sector develop, he said.

Private investments will increase already this year as a result of home construction schemes, and government measures affecting the construction industry are expected to have an impact from 2017, with 40,000 homes to be built by the end of the government term, Varga said.

Photo: MTI

economy
Share
Daily News
Daily News

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • OECD: Hungary continues to fail to implement Anti-Bribery Convention
  • Hungarian President: Hungary strives for a quick ceasefire in Ukraine
  • PHOTOS: Budapest’s most beautiful historic cafés
  • Europe’s greatest battery plant in Debrecen criticized by locals, opposition
  • Here is the first deodorant refill station invented by Hungarians
  • Hungary would like the Turkish president to win the Nobel Peace Prize
  • Exotic airline comes to Budapest with new flights this summer
  • PHOTOS: Turkish foreign minister in Budapest

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V