Orbán cabinet is very optimistic: economy could grow by up to 6 percent this year

Hungary’s economy could grow by up to 6 percent this year and expand by even 6 to 7 percent in 2022, leaving neighbouring countries behind to become a forerunner in the region, Márton Nagy, senior economic advisor to Prime Minister Viktor Orbán, told commercial broadcaster Inforadio on Tuesday evening.

Nagy attributed a rebound in the country’s economic performance despite the negative effects of the coronavirus pandemic to two factors. One concerns the economic policy pursued over the past 10 years, as a result of which the economy has become “shock resistant”, while the other concerns a set of crisis management measures aimed at protecting and revitalising the economic sector, he said.

Nagy said

the government’s formula was simple and aimed at boosting investments while protecting jobs.

Nagy highlighted the importance of granting wage subsidies and introducing a moratorium on loan repayments.