• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
<b> Minister: new investments key to avoiding recession </b><b> Minister: new investments key to avoiding recession </b><b> Minister: new investments key to avoiding recession </b><b> Minister: new investments key to avoiding recession </b>
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • Brutal fuel price hike comes from January in Hungary

  • Alert issued: Brutal snowfall hits Hungary, drive safe!

Support us
DNH 2021 DNH 2021 · 17/09/2022
· Politics

Minister: new investments key to avoiding recession

Hungary’s economy can avoid a “European recession” only by attracting more foreign investments, Péter Szijjártó, the foreign minister, said on Thursday at a ceremony inaugurating Thyssenkrupp’s factory in Jászfényszaru, east of Budapest.

The state is providing 4.7 billion forints (EUR 11.5m) in support for the 15 billion forint investment, which is expected to create 110 jobs at the plant turning out steering systems.

Attracting as many investments as possible to the country would be the best way of staving off a downturn, he said, adding that this year’s investment record has already outperformed the whole of last year’s. “The record number of cutting-edge automotive investments in Hungary guarantees the Hungarian economy’s ability to carry on growing despite the European recession,” he said.

  • Read also: Chinese-owned Halms Hungary to build EUR 40 m EV parts plant in Hungary

The country’s automotive industry is set to break another record this year, projected to reach 10,000 billion forints, he said.

Szijjártó hailed Hungary-Germany economic ties, noting that last year’s bilateral trade turnover was around 60 billion euros and more than 30 billion euros in the first half of this year.

Germans are still the largest investor community in Hungary, with around 6,000 companies employing around 300,000 people, he added.

bosch
Read alsoBosch building EUR 10.6m engineering centre in W Hungary

Source: MTI

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
Germany Hungarian economy Hungary investment
Share

Hot news

  • Hungarian opposition to build strong service state based on the rule of law

  • What happened today in Hungary? — 7 December, 2023

  • Hungarian opposition proposes environmental damage control fund

  • VIDEO: Fire broke out in one of Budapest’s busiest squares at night

  • A Budapest hotel wins a prestigious award

  • Dubai in Hungary: Budapest’s over 100-year-old metro line may be extended

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
Hungarian opposition to build strong service state based on the rule of law

Hungarian opposition to build strong service state based on the rule of law

Read More
What happened today in Hungary? — 7 December, 2023

What happened today in Hungary? — 7 December, 2023

Read More
Hungarian opposition proposes environmental damage control fund

Hungarian opposition proposes environmental damage control fund

Read More
VIDEO: Fire broke out in one of Budapest’s busiest squares at night

VIDEO: Fire broke out in one of Budapest’s busiest squares at night

Read More
A Budapest hotel wins a prestigious award

A Budapest hotel wins a prestigious award

Read More
Dubai in Hungary: Budapest’s over 100-year-old metro line may be extended

Dubai in Hungary: Budapest’s over 100-year-old metro line may be extended

Read More
Official: Hungarian state bus company announces strike

Official: Hungarian state bus company announces strike

Read More
Hungary has demonstrated how to protect the border

Hungary has demonstrated how to protect the border

Read More
Ryanair launches new flight to Italy from Budapest!

Ryanair launches new flight to Italy from Budapest!

Read More
Govt launches HUF 20 bn scheme to build accommodation for labourers

Govt launches HUF 20 bn scheme to build accommodation for labourers

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?