Finance minister: Hungary aims to maintain fiscal discipline, reduce debt

The Hungarian government plans to keep the momentum of economic growth while maintaining fiscal discipline and reducing public debt, Finance Minister Mihály Varga said on Tuesday in a statement.

“In 2019 the Hungarian economy grew by 4.9 percent, while the ratio of government debt to GDP was only 66.4 percent, having improved by nearly 4 percentage points in one year,” Varga added.

“The performance of the Hungarian economy — to have a GDP growth of close to 5 percent in two consecutive years — is almost without precedent in the European Union (EU),” the minister underlined.

The central and eastern European region — including Hungary — plays an important part in boosting the economy of the EU, he said.

European and Hungarian economies face many challenges, therefore reforms that boost growth and strengthen the resilience of the economies must continue, Varga noted.

“Investments in infrastructure, human capital and structural reforms will support long-term growth while boosting private investment,” he added.

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Source: Xinhua – Budapest