Marton Nagy - Photo:

Economy Minister: Economic recovery requires ‘less domestic and corporate conservatism’

Following hardships in recent years "it is understandable that households are cautious" but reducing that conservatism is required for consumption to pick up, while an increase in investments should lead to a more relaxed attitude by businesses, the national economy minister told the Chamber of Commerce and Industry's year-opener on Monday.

Marton Nagy said lower inflation had already resulted in lower industrial production costs, adding that “the labour market has been protected”.

Hungary’s economic growth could pick up in the next years and the main economic indicators could be fully restored to earlier levels by 2026, the minister added.

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