Marton Nagy - Photo:

Economic development minister: Government credit schemes add up to 1.2 percent to GDP

Government credit schemes such as the Szechenyi Card and Re-industrialisation programme supporting companies are expected to add some 1.0-1.2 percent to the country's GDP this year, saving it from recession, the minister of economic development told a conference on Thursday.

Avoiding recession and pushing inflation into single digits by year-end remain the main goals of Hungarian economic policy, Marton Nagy told the conference.

The Szechenyi Card programme facilitated contracts worth a total of 387 billion forints (EUR 1.0bn) between January and April, and the re-industrialisation scheme 534 billion, he said.

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