Work, chance to buy a home and education keys to keeping young people in Hungary – Economy minisiter

Work, the chance to buy a home and favourable conditions for education are the keys to keeping young Hungarians in the country, Finance Minister Mihály Varga told journalists after a presentation on the topic at a meeting of the national committee of Fidelitas, the youth arm of the ruling Fidesz party, in Balatonföldvar, on Lake Balaton, on Saturday.

Hungary’s youth employment rate is declining, relative to other countries in Europe, and is under 10 percent at present, he said.

Young Hungarians working abroad have been returning home since 2017 thanks to higher real wages, Varga said.

“The trend has changed: an annual 20,000 people are coming home, that is, without going back [abroad] to look for work,” he added.

He also noted the impact of a home purchase subsidy programme for families and increased spending to make the education system more competitive.

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Fidelitas chairman László Böröcz said security and a strong economy were key factors for keeping Hungarian youth at home.

“With competitive wages, young people decide they would rather stay in Hungary, while going abroad for a short period, to study or gain experience,” he added.

Source: MTI