Daily News Hungary economy

Budapest, February 29 (MTI) – Investment volume in Hungary grew by an annual 7 percent in the fourth quarter, bringing 2015 investment growth to 0.6 percent, the Central Statistical Office (KSH) said on Monday.

Investment growth reflected almost exclusively activity in the public administration, social insurance and defense sectors where investments were up 90 percent from a year earlier in Q4 and rose nearly 50 percent in the full year. Investment volume in the fourth quarter fell in all other main sectors, and in 2015, the only other sector with an increase was the logistics sector.

Manufacturing sector investment volume was down 7.1 percent in the year to Q4 and fell by 6 percent in 2015.

Overall investment growth slowed from 14 percent in 2014. Investments in Hungary started to rise in 2013 after decreasing every year between 2009 and 2012.

Investments in Hungary grew last year on fourth-quarter investments in the public sector including education, health care and public administration as well as in the energy and information and communication (ICT) segments, Economy Minister Mihaly Varga said on Monday, commenting on data release. Speaking on public news television channel M1, Varga said the government has great expectations for the recently extended home purchase subsidy programme (CSOK), which could give a boost to home construction from the second half of the year.

Developments related to ICT and digitalisation as well as energy sector investments are expected to pick up in the coming months, the minister added.

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

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