Finance Minister Mihaly Varga – Photo: Facebook

Varga: Hungary could be among EU countries with highest economic growth in 2024

The latest European Commission growth forecast shows that Hungary could be among EU countries with the highest economic growth in 2024, Finance Minister Mihaly Varga said on Tuesday.

The projected 2.4 percent growth for Hungary is well above the EU average of 1.3 percent, he told MTI.

Varga, who attended a meeting of economic and financial ministers in Brussels, said EU member states placed an emphasis on competitiveness and wanted Europe to be set on a growth path.

The EC projection of 2.4 percent growth was “good news”, though the Hungarian government’s projected 3.6 percent “is even higher”, he said. “We very much trust that this will go together with an increase in competitiveness,” he added.

Commenting on 50 billion euros financing to be offered to Ukraine, he said Hungary’s position was that an annual review would be necessary, involving an assessment of how much support was needed and the utilisation of support received. A decision on support for the following year could then be made on the basis of the annual assessment, he added.

“We ended the meeting with the hope that during the [Feb 1] summit, when a final decision is made on the tool, Hungary’s proposal will be assessed,” he said. “Efforts must be made for the EU to prepare a solution acceptable to all countries,” he added.

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