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Facts & Statistics

Mihály Varga: Hungary’s economy is strengthening

In the fourth quarter of 2020, HUF 4 trillion worth of developments were implemented in Hungary.

In 2020, just over HUF 4 trillion worth of developments were implemented in Hungary in the fourth quarter, which is 4.8 percent more than in the previous quarter, Minister of Finance Mihály Varga announced on Monday.

Varga added that the stronger performance is mainly due to the budget and the growing investments of families. He cited real estate, public administration, education and healthcare as examples, with growth of 24, 21, 20 and 23 percent, respectively.

The government’s investment support measures including tax cuts, ongoing capacity expansions and the long-term investment rate, which is at the forefront of the European Union, could further strengthen investments in 2021, he added.

Source
www.novekedes.hu
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