Finance Minister Mihaly Varga – Photo: MTI

Finance minister: Hungary’s economy among fastest growing in EU

Hungary's economy has been growing despite the extended war, with 6.5 percent increase in the second quarter of this year which is over 50 percent more than the European Union average, the finance minister said on Facebook on Thursday.

Mihaly Varga attached a chart to his Facebook post showing that Hungary’s GDP figure was the third best in the EU. Only Slovenia and Portugal fared better than Hungary, with 8.3 percent and 6.9 percent, respectively. Hungary is followed by Spain with 6.3 percent and Cyprus with 6.1 percent and the lowest growth figures of 1.6 percent and 1.5 percent on the chart belong to Slovakia and Germany, respectively.

Varga also said that the crisis caused by the war makes economic outlooks increasingly unfavourable for the whole of Europe.

“The aim is to preserve the Hungarian economy’s stability and growth in a deteriorating environment,” he added.

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