By the end of September, Hungary had reserves of over 5.28 billion cubic meters of natural gas, more than enough to cater to the country’s needs throughout the winter, the Hungarian energy and public utility authority (MEKH) said on Wednesday.
Following its annual review of winter preparedness, MEKH said gas storage facilities were 83 percent full, guaranteeing the needs of private consumers and industry as well as emergency reserves in case of supply interruptions, MEKH said. Natural gas for domestic consumption is supplied jointly by imports, domestic gas production and from reserves, MEKH said.
Government: Investments in Hungary in rude health despite pandemic
The investment rate in Hungary of 27 percent in the second quarter is the highest level for many years, a finance ministry official said on Wednesday, adding that investors in the country were undeterred by the pandemic-related crisis.
Speaking at the 10th Macroeconomic Conference of the Joint Venture Association (JVSZ) on Wednesday, Gábor Gion, the state secretary for finance, noted that
an investment worth 6,700 billion forints (EUR 18.6bn) is currently under way,
which is expected to add 25 percentage points to GDP once it is handed over.
High levels of public and private investment will enhance future GDP, he said, adding that economic sustained growth of an annual 4 percent could be achieved as a result. Gion noted that growth was expected at around 7.5 percent this year and 5 percent in 2022.