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Investment Rate in Hungary at Highest Level Despite Pandemic

• 14 Oct 2021 6:20 AM
• Hungary Matters

The investment rate in Hungary of 27% in the second quarter is the highest level for many years, a finance ministry official said on Wednesday, adding that investors in the country were undeterred by the pandemic-related crisis.

Speaking at the 10th Macroeconomic Conference of the Joint Venture Association (JVSZ) on Wednesday, Gábor Gion, the state secretary for finance, noted that an investment worth 6,700 billion forints (EUR 18.6bn) is currently under way, which is expected to add 25 percentage points to GDP once it is handed over.

High levels of public and private investment will enhance future GDP, he said, adding that sustained economic growth of an annual 4% could be achieved as a result. Gion noted that growth was expected at around 7.5% this year and 5% in 2022.

 

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