Investment growth in Q3 reaches 18.3 per cent

Investments in Hungary rose by an annual 18.3 percent in the third quarter, lifted by growth across all sectors with the exception of water and waste management, the Central Statistical Office (KSH) said on Tuesday.

Investments in the manufacturing sector climbed by 14.4 percent and they were up 19.4 percent in the real estate sector. In the logistics sector, investments increased by 11.2 percent.

Investments in machinery were up 20.2 percent and construction investments rose by 17.4 percent.

In absolute terms, investments came to 1,596 billion forints (EUR 5bn).

For the period Q1-Q3, investments rose by 22.6 percent year on year, reaching 4,144 billion forints in absolute terms.

Economy Minister Mihály Varga said investments were also increasing in parallel with growth in the economy, meaning more and more jobs in Hungary.

Noting that in the first three quarters the volume of investments had grown by almost 23 percent, Varga said that

when these investments come to fruition in the next year to a year and a half, they would contribute to further economic growth.

Whereas the growth in investments was mainly on the back of construction and real estate investments, growth was typical of almost every sector, he said, noting the automotive industry, logistics and the transport sector as examples.

Varga said strong investment activity was mainly linked to bigger enterprises, but small and medium-sized firms had also enjoyed a two-digit increase.

Source: MTI