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Economy & Policy

The government has delivered on two major promises

The goal of creating a million new jobs announced in 2010 has been achieved, and all the jobs destroyed by the coronavirus have been replaced.

Minister of Foreign Affairs and Trade Péter Szijjártó said that thanks to political stability, Hungary has not only been able to successfully deal with crises and challenges in recent years but has also been able to turn difficult times to our advantage.

While Hungary was one of the economic laggards in the European Union in 2010, it is now without a doubt one of the leaders.

The government laid the foundation for an economic policy strategy based on a work-based society, which helped the Hungarian economy to have its most successful year ever last year, Szijjártó said.

Announcing the investment by the WAREMA group of companies, which manufactures plastic products, the minister said that the German company’s development in three Hungarian cities at once is worth HUF 11 billion. The state is providing HUF 1.8 billion in funding, helping to create 150 new jobs in Nagykanizsa, Gyál and Pécs.

Finally, he pointed out that last year the Hungarian-German trade turnover record was also broken, with a 12 percent increase to over EUR 60 billion, while Hungarian exports to Germany grew by 9 percent to over EUR 30 billion.

German companies are the largest investor community in Hungary, with some 6,000 companies employing 300,000 people. This also shows that Hungarian-German cooperation is a key factor in the performance of the Hungarian economy, the minister said.

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