Shock Resistant Economy in Hungary, Claims IT Minister

  • 22 Nov 2021 7:14 AM
  • Hungary Matters
Shock Resistant Economy in Hungary, Claims IT Minister
Hungary’s economy is “shock resistant” and though hit hard by the coronavirus crisis, it was among the first economies in Europe to return to pre-pandemic growth levels, the innovation and technology minister said in Salgótarján, in northern Hungary.

László Palkovics participated in a working meeting that reviewed the complex development programme for the city and Nógrád County until 2030.

He cited international analysts projecting a 7-7.5% economic growth in Hungary this year.

“The government’s projection is a bit more cautious, at 7%, which however puts Hungary among the best performing economies in Europe,” he said.

The minister also said that thanks to the government’s measures, Hungary’s employment rate had returned to pre-pandemic levels with more than 4.7 million people holding a job in April.

Palkovics said he visited the plant of French transport company Alstom in Mátranovák where he was briefed about plans for a large-scale expansion.

Meanwhile, Alstom said in a statement that it will introduce new industrial technologies and expand the portfolio to enhance the competitiveness at the Mátranovák plant over the next years and presented the plans to the minister.

The statement quoted Palkovics as saying that Alstom’s plant at Mátranovák plays a key role in Nógrád County’s economy.

MTI Photo: Tibor Illyés

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