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According to Mihaly Varga, the Hungarian economy could be the leader of the Union this year

According to Mihaly Varga, the Hungarian economy could be the leader of the Union this year

According to the European Commission's latest assessment, Hungary may be at the top of the EU's economic growth rankings this year; The Hungarian economy is expected to grow by 2.4%, well above the EU average of 1.3%. Finance Minister Mihaly Varga made the announcement to MTI in Brussels on Tuesday. The Prime Minister participated in the meeting of economic and finance ministers of the European Union countries in the Belgian capital.

Photo: Robert Hegedus/MTI

Explaining the Council's agenda, he said that member states place great emphasis on competitiveness and strive to put Europe on a path of growth. According to him, it is good news that the European Commission's latest economic forecasts forecast 2.4 percent growth for the Hungarian economy by 2024, but he added that the Hungarian government expects higher growth. 3.6 percent Growth is expected.

We are very confident that all this will go hand in hand with improving competitiveness

Mihaly Varga stressed. Regarding Ukraine's four-year financing of 50 billion euros, he said: The Hungarian position is that the instrument should be evaluated annually, within the framework of which the EU Commission studies the need for the funds and their use and, in light of this, decides on next year's disbursement.

“We ended the meeting with the hope that the Hungarian proposals will also be evaluated at the EU summit on February 1, when the final decision on this instrument will be taken. Efforts must be made to reach a solution acceptable to all member states, as has happened so far.” Mihaly Varga said.

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What the Hungarian government is preparing for is unprecedented in all of Europe

If the Cabinet's forecasts turn out to be correct, a The growth of the Hungarian economy in 2024 could be a leader in the European Union. The targeted domestic GDP growth far exceeds regional and Western European expectations.

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