Hungary has been pursuing a growth-centred economic policy since 2010, Orbán said, adding that both the country’s present and medium-term growth rates exceed the European Union average. He said Hungary can be proud of its progress so far, but added that it is only half way to reaching its full economic potential. Hungary is capable of doubling its growth, Orbán said.

“This has to be the medium-term goal,” the prime minister said. He noted that the EIB has contributed 19.3 billion euros to Hungary’s economic development since 1990. Orbán said that with issues such as Brexit, the free trade agreements with the US and fragile EU-Russia relations the European community has been facing “an uneasy time” and this gives the EIB even greater responsibility.

“Without the EIB economic success can be hardly achieved today in Europe,” the prime minister said. Addressing the event, Economy Minister Mihály Varga said that the EIB opening an office in Budapest signals the recognition of Hungary’s economic policy and it will strengthen Hungary’s partnership with the bank.

Republished with permission of Hungary Matters, MTI’s daily newsletter.

MTI photo: Koszticsák Szilárd