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Hungary could top this year’s EU economic growth rankings, with a growth rate of 2.4%, significantly higher than the EU average of 1.3%, according to the European Commission’s latest assessment. Finance Minister Mihai Varga said in Brussels.
The minister was attending the EU Finance and Economy Ministers’ Meeting in the Belgian capital. He presented the Council’s agenda, saying that Member States are focused on competitiveness and working to put Europe on a growth path.
The politician emphasized that
It was good news that the European Commission’s latest economic forecast predicted a growth rate of 2.4% for the Hungarian economy in 2024, but added that the Hungarian government expected an even higher growth rate of 3.6%.
“We are very confident that this will improve our competitiveness,” he said.
fact
as Hungary today As previously reported, the Hungarian government is focused on strengthening growth pillars and is committed to achieving economic growth of over 4% this fiscal year. One of the key determinants for the successful implementation of the growth plan is to maintain the investment-to-GDP ratio above 25%. This is very important to maintain the momentum of economic development. Importantly, large amounts of working capital (record amounts) have flowed into the country. Furthermore, large-scale investments are currently underway, including the establishment of automobile factories and battery factories, further accelerating economic growth.
Regarding Ukraine’s funding of 50 billion euros over four years, Foreign Minister Mihai Varga said that the EU Commission will consider the need and use of the funds and decide on next year’s spending from that point of view, while facilities will be evaluated annually. He emphasized Hungary’s position that Of this.
We ended the meeting with the hope that Hungary’s proposal would also be evaluated at the EU summit on February 1, when a final decision on this topic will be taken.
We must work as hard as we have in the past to ensure that the European Union develops solutions that are acceptable to all Member States,” concluded Mihaly Varga.
via MTI; Featured image via Facebook/Audi Hungaria Győr
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