Government to launch new economy protection plan next year

The government will help Hungarian economic actors by the launching of a new economy protection action plan sometime next February or March, Finance Minister Mihály Varga said at an event in Debrecen, in eastern Hungary, on Friday.

The action plan will include further tax reductions and streamlining of administrative processes, he said.

Varga said that it is premature to talk of an economic recession in Europe, even if growth prospects are muted, however the mood is more confident in central Europe and Hungary.

Next year economic growth in Hungary could realistically by around 4 percent which will be helped along by the government’s action plan, he added.