The results of Hungary’s economic protection measures so far are encouraging, as the number of registered job seekers has declined now for the third week in a row. The corporate feedback is also favorable, said László György, Minister of State for Economic Strategy and Regulation at the Ministry for Innovation and Technology in Hungary.
According to György, the government’s crisis management was based on a strong foundation. Production capacities have been built up over the last ten years, and the country’s competitiveness and the productivity of enterprises have greatly improved.
The positive economic outlook is also seen in the steady rise in salaries. In April, the month most affected by COVID-19, gross average earnings came in at HUF 400,200, 7.8 percent higher than a year earlier.
The minister also noted that the healthcare system is prepared for new waves of the epidemic and that Hungary is one of the safest countries in Europe.
Additionally, international developments are expected to contribute to the recovery, as the Chinese economy is showing favorable signs and the situation in other major Hungarian export markets is also encouraging, he added.