Facts & Statistics

Hungary’s economic prospects are better than in developed countries

Hungary's economic prospects for the coming year are better than those of Europe's advanced economies, according to the IMF's World Economic Outlook and Fiscal Monitor reports published in April.

Balázs Orbán, Parliamentary and Strategic State Secretary at the Prime Minister’s Office, said Hungary’s economic growth is expected to increase by 3.6 percent in 2023, 1.4 percentage points above the average GDP growth of developed European countries.

“In the fight against unemployment, we will outperform Europe’s advanced economies. According to IMF calculations, our unemployment rate will stand at only 4.2 percent in 2023, compared with a much higher 6.4 percent in developed countries,” he said.

A similar performance can be expected for Hungarian public debt, which will fall by almost 5 percent from 2021 levels, and will be 20 percent lower than the average for developed European countries, he added.

Hungary can not only compete with the rich countries, but can also do better than them, proving that Hungary can join the league of developed countries.

Show More

Related Articles

Back to top button