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Convergence Programme: Hungarian economy to grow at high rate

The government will be continually reducing the budget deficit and the public debt, and the Hungarian government could grow at one of the highest rates in the European Union in the upcoming years, the finance ministry said, citing Hungary's Convergence Programme sent to the European Commission.

The projection shows increasing employment, improving unemployment rate, higher wages and decreasing inflation in the upcoming year, it said.

The period since the publication of the 2023 Convergence Programme has been characterised by keeping inflation under control and restoring external balance, the statement said. Despite unfavourable external circumstances, the factors on which economic growth is based have been continually strengthening, it added.

The programme projects 2.5 percent growth for 2024 and 4.1 percent in 2025, to be followed by annual growth of around 4 percent, which also coincides with projections by the EC and the IMF showing that Hungary could be in the forefront of EU countries in terms of economic growth, the ministry said.

Hungary’s 2024-2028 Convergence Programme is available at

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