Local Opinion: Hungarian Economy Grows By 5%

  • 16 Nov 2018 8:53 AM
  • BudaPost
Local Opinion: Hungarian Economy Grows By 5%
A pro-government columnist welcomes the latest high growth figures as proof of the correctness of the government’s economic policies.

On Tuesday, the Central Statistical office reported that in the third quarter, economic growth was 5 per cent year-on-year. Analysts had expected only 4.3 per cent due to slower growth in the EU. The annual growth rate may be as high as 4.5 per cent, which would be the highest in 14 years.

In Magyar Hírlap, Gábor Putsay hopes that rapid growth can be maintained, and Hungary will catch up with Austria by 2030, as desired by Prime Minister Orbán.

The conservative analyst acknowledges that this is a very optimistic projection, but interprets sustained Hungarian GDP growth as an indication that the economy is in good shape.

Putsay recalls that in the early 2010s, Hungary was mentioned alongside Greece as the weakest and riskiest economies in Europe, but now it has the second highest growth rate in the EU. The success of the economy proves the economic policy of the government and the National Bank right, he concludes.

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Launched in May 2011 to provide a balanced picture of matters covered in Hungary’s national press. Their aim is to make it easier for English-speakers to understand where this country is now and where it’s heading according to the full spectrum of media opinions.

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