Economic development minister helms Economic Cabinet meeting

Nagy recently took over as the head of the Economic Cabinet from Finance Minister Mihaly Varga. The cabinet’s scope of activities has been expanded with areas that were earlier under the purview of the Growth and Competitiveness Cabinet.

On the agenda of the Economic Cabinet Wednesday’s meeting were proposals to strengthen SMEs and the labour market, and to develop infrastructure.

The Economic Cabinet’s permanent members include the agriculture minister, the energy affairs minister, the construction and transport minister, the culture and innovation minister, the minister of foreign affairs and trade, the head of the Prime Minister’s Cabinet Office and the regional development minister, in addition to the economic development minister. The cabinet is responsible for tax policy, rural development, the budget, managing state-owned assets, the domestic economy and competitiveness. It seeks to coordinate the interests of the government and society with regard to sectoral and national economy goals in the interest of advancing and growing the Hungarian economy.

The economic recovery requires easing consumer caution, increased consumption and investments, and a further boost to the activity rate, the KTK said.