Economy & Policy

Hungary: Big goals for 2030

Hungary can become one of the five most viable and competitive countries in Europe by 2030, Tamás Schanda, Deputy Minister of Innovation and Technology, said.

The government has HUF 6 trillion to make Hungary better and will allocate HUF 1.5 trillion to the field of higher education to ensure Hungarian youth are the winners of the future. This will ensure Hungary’s success in the long run, Schanda added.

Among the plans, the secretary of state highlighted the following: 

  • Further increase in the number of nursery spots
  • Facilitate the transport of children via school buses
  • Help improve the 300 most disadvantaged settlements
  • Modernize water management
  • Make transport more modern and green
  • Increase the share of renewable energy sources
  • Strengthen digital capabilities

The epidemic affected the Hungarian economy less than that of many other richer countries, Tamás Schanda pointed out. He said that the Economy Protection Action Plan

proved to be effective, and the government will now continue to work on the Action Plan to Reboot the Economy, whose main elements will include: 

  • Extension of home subsidies
  • Wage subsidies for enterprises
  • Historic wage increases for doctors
  • Providing pensioners with a 13th month pension
  • Income tax exemptions for those under 25
  • Maintaining the credit moratorium
  • Providing SMEs with an interest-free loan of HUF 10 million

Schanda emphasized that the left was hitting people with tax increases during the economic crisis under its administration but was unable to solve any problems. The current government has said no to the path of austerity and social aid, providing opportunities and subsidies for everyone instead, he noted.

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