Daily News Hungary economy

Budapest (MTI) – The government plans to sell unused real estate with an expected revenue of 70-75 billion forints (EUR 232m-248m) this year, Economy Minister Mihaly Varga said.

Ministries also plan the sale of postal, railway and military property postponed from earlier years, Varga told public news channel M1 on Tuesday.

Varga welcomed home construction data published by the Central Statistical Office (KSH) earlier today and said the rise in house building permits issued in the first quarter reflects improved financial positions by private individuals as well as postponed purchases.

Concerning the European Commission’s economic growth forecast published today, projecting 2.8 percent growth this year and 2.2 percent next year, Varga said the Commission, and the Hungarian government, have been optimistic compared to earlier forecasts. Growth in 2014 allowed more optimism in planning projections for 2015 and 2016, he said. Domestic consumption has grown faster than expected, household savings were up, which can help lending, while wages and employment have also expanded, contributing to a more optimistic outlook, he added.

Source: http://mtva.hu/hu/hungary-matters

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