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Investments in Hungary in good health despite pandemic

The investment rate in Hungary of 27 percent in the second quarter is the highest level for many years, a finance ministry official said on Wednesday, adding that investors in the country were undeterred by the pandemic-related crisis.

Speaking at the 10th Macroeconomic Conference of the Joint Venture Association (JVSZ) on Wednesday, Gabor Gion, the state secretary for finance, noted that an investment worth 6,700 billion forints (EUR 18.6bn) is currently under way, which is expected to add 25 percentage points to GDP once it is handed over.

High levels of public and private investment will enhance future GDP, he said, adding that economic sustained growth of an annual 4 percent could be achieved as a result. Gion noted that growth was expected at around 7.5 percent this year and 5 percent in 2022.

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