The prime minister said, “We are on the cusp of wonderful times,” and even the first year of the new decade could be wonderful, even if the first few months seem “miserable” due to the restrictions. “We will be on an upward trajectory at an amazing speed: the world economy can easily start growing at an unprecedented rate (…) the Hungarian economy should be faster,” said Viktor Orban, adding that the Hungarian economy is a system that few understand today.
Governor Giorgi Matulci expressed a similar opinion. According to Matulsi, the deciding factor will be when population protection can be achieved and thus the fear caused by the pandemic can be overcome. If this materializes in the first half of 2021, he said, we expect the fastest economic recovery in Hungary in the past 100 years.
However, the Finance Ministry is not optimistic in the short term. The prime minister expects GDP growth of 3.5% for this year, which is lagging behind the years leading up to the coronavirus crisis. (That is, based on this, we will not reach the level of GDP for 2019 until this year). However, by 2022, economic growth is expected to be over 5%, which will be a really rapid expansion.
Viktor Orban confirmed Sunday that this will be a digital economy called a circular economy capable of treating its own waste, while drastically reducing carbon emissions, full employment and growing significantly faster than the western part of the European Union. People will also grow, live in bigger homes and have more children. ”
Viktor Orban said that by the end of the decade, the Hungarian economy must realize that the profits of Hungarian companies investing abroad will return home the amount that foreign companies operating in Hungary take out of the country.
In crises, he said, taxes should be cut, and state and local governments alike, even banks, should intervene by extending the moratorium on lending, adding that “everyone is taking something here now.” He noted that not all municipalities realize the importance of tax cuts, although companies are only able to provide more jobs for people if there is the least possible public burden on them. He stressed the need to put companies in a position to employ the largest possible number of people.
The prime minister also said that they were able to keep jobs in both the first and second waves of the crisis, as evidenced by the fact that they are now working about 60,000 fewer than the previous year, before the outbreak of the disease; And in unemployment statistics, only the Czech Republic and Germany are still ahead of Hungary.
Viktor Orban called it important to preserve jobs so that no major plan for the country should be abandoned due to the pandemic. He cited as an example the restoration of the thirteenth month’s pension and the continuation of family support programs and housing construction.