Naderi told the conference on competitiveness and skills that a rethink was required for both the content and the financing of the continuing education system.

She added that administration should be scaled back and raised the possibility of introducing individual study accounts.

She also pointed to the benefits to businesses of participating in vocational education and training.

Sandor Zako, the chairman of staffing company Prohuman, which organised the conference with the Hungarian Chamber of Commerce and Industry (MKIK) and the Joint Venture Association, said AI and automation could help boost productivity as the labour pool shrinks.

He added that 50,000 fewer people enter the labour market than leave it each year.

MKIK head Elek Nagy noted that the number of employed in Hungary had climbed by around 1 million over the past 15 years. Developing a knowledge-based economy and promoting innovation is a way out of the middle income trap, he added.

Joint Venture Association head Hajnalka Csorbai said businesses needed to incentivise life-long learning among their workers.

MTI Stock Photo

Source: MTI – Hungary’s national news agency since 1881.

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