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Government: Hungary back on growth path
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Hungary has returned to a path of growth in spite of the Russia-Ukraine war, the ongoing “political attacks from Brussels and the pressure from Washington”, Finance Minister Mihály Varga told the 30th congress of Hungary’s ruling Fidesz party on Saturday.
Hungary was the fastest growing European Union member state in 2019, and though its growth was broken by the pandemic and the subsequent period, “thanks to the healthy structure of the economy and falling global energy prices, we’re back on a path of growth”, Varga said, adding that “our economic outlook can propel us to the top again.”
Citing the European Commission’s Autumn Economic Forecast released this week, Varga said Hungary was projected to be among the top third of EU countries in terms of growth in 2024, and was set to be the fastest-growing member state in 2025.
He said the incoming government of Prime Minister Viktor Orban had inherited a “bankrupt” country in 2010, and because the roadmap offered by Brussels would have only led to more austerity and a loss of competitiveness, the government carved its own path.