National Economy Minister Márton Nagy said 2025 would be a “rebound” year of “economic recovery”, supported by a “peacetime budget”, testifying before parliament’s economy committee on Tuesday.
National Economy Minister expects economic recovery in 2025
Nagy said the government had responded successfully to the crises of the past five years: the pandemic, the energy crisis caused by the war and the economic downturn in Germany.
In light of the changed economic circumstances, the government has launched an economic policy action plan, founded on a policy of economic neutrality, that aims to aid the domestic recovery and lift GDP growth over 3pc from 2025, he added.
Nagy said that action plan would pump HUF 1,400bn into the business sector and leave households with more than HUF 2,800bn.
Nagy said tourism and retail data indicated a recovery of domestic consumption in 2024 that would continue in 2025. He added that real wages could grow 9pc this year, while the employment rate stood at 84pc, close to full employment.
Nagy said the construction sector would bounce back, with an order stock up 40pc and government measures set to lift the housing market. He added that home builds could double to 25,000 next year, still under the 40,000-unit potential of the local construction sector.
Nagy blamed Berlin’s overly disciplined fiscal policy and spending on ideologically important goals, rather than economic development, for the downturn in Germany. He added that the German government’s decision to roll back EV subsidies was also damaging.
Fielding questions, Nagy said dormitories with capacity for 13,000-20,000 students could be built in a student quarter in a brownfield area in the south of the capital. The government aims to keep the number of beds reserved for foreign students under 30pc, he added.
Nagy said the state would recoup the price it paid for a controlling stake in Liszt Ferenc operator Budapest Airport in 15 years.
Read also:
Challenge – find Hungary on the map and reread the article:
https://brilliantmaps.com/eu-budget/
Sure, pal, sure. Best of luck with that.
I mind less that the country’s economic performance will almost certainly be nothing like what they predict and more that the government is unwilling to level with the populace and tries to use this too for banging their own drum. It’s ok to be ‘optimistic’ but propagating out and out fiction isn’t fine. Nobody believes the numbers, even their own voters.
What will they say at the end of 2025 when the numbers are in and the economy is essentially stagnant? “Next year will be so much better, just stick with us,” if I had to guess. Fact is, Hungary is uncompetitive and will remain so while this lot is in power. The country’s potential isn’t harnessed, the economy isn’t firing on all cylinders and can’t while state intervention and an artificially subsidised business elite is cleaning up, starving competitive market actors of oxygen, not to mention the hugely felt absence of EU money. That in itself needn’t condemn the Hungarian economy to servitude, but all of the country’s regional competitors are in receipt of these funds and Hungary is therefore at a major relative disadvantage.
WORSENING – is it NOT ?
Be MINDFUL, the Minister making comments in this article, just an ABSOLUTE “heap” of fabrication of the real STUFFED picture, that they have delivered us – Hungary.
Fidesz – are they Imploding ?
Are the Panicking ?
They KNOW – the growing PRESSURIZATION on them, the growth number of voters / citizens ABANDONEMENT of them.
That name – Victor Mihaly. Orban – as it ALL deepens on him – his name, becoming engulfed, with direct individual “finger pointing” rightly at him Victor Mihaly. Orban, highlighting FACTS & TRUTH – exhibiting his name, for the devastation, he and his Fidesz Party have DELIVERED to Hungary.
It WILL happen, sooner than later, a “blood bath” – inside Fidesz.
Fidesz are ABSOLUTLEY “on the nose” cornered, no way out, on that “highway to hell” played ALL there cards, that have FAILED.
Hungarians – are forming there own OPINIONS – which is the correct process – looking at them-selves, life-style, quality of life, profession- future career advancement, there family, there children, there grand-children, there retirement – we need to EXAMINE these points and “other” as the “going forward” – the FUTURE of Hungary is factually under gargantuan PRESSURE.
We are in for WORSENING times, but in SOLIDARITY – to-getherness ORDERLY – that in our FIGHT to remove the Orban Government, that it be conducted – PRACTICED – under Truth & Facts.
Truth & Facts – and “solid” back up supporting documentation – just to be THROWN back, right in the face, of this Orban Government who have FAILED us – individually in our millions and as a country.
Repulsive / Appalling.