Economy & Policy

The achievements of the past must be protected in the crises of the next decade

As in the past 12 years, the next decade is likely to be a decade of crises, but the government remains ready to defend its national interests and economic achievements.

Minister of Foreign Affairs and Trade Péter Szijjártó attended the announcement of the capacity expansion investment in Sada and Dunakeszi by BioTech USA Kft., a company producing dietary supplements. The development of the company, which is present in more than 100 countries, is worth HUF 11.5 billion, to which the state will contribute HUF 2.7 billion, thus helping to create 100 new jobs.

On the construction of the new protein wafer production plant, the minister pointed out that the value of protein concentrate exports had increased by 75 percent in one year and by 18 percent since 2010, making Hungary the 19th largest exporter of protein concentrates in the world.

The value of production in the Hungarian food industry grew by 12 percent last year to HUF 4.5 trillion, and the momentum is continuing, with a 33 percent increase in the first two months of this year.

Szijjártó said that the government would continue its economic policy strategy from the past 12 years of reducing taxes on labor, supporting investment, and creating jobs — all of which has made 2021 the most successful year in Hungarian economic history, despite the coronavirus epidemic.

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