Marton Nagy - Photo:

Government competitiveness working group holds first meeting

A working group advising the government on decisions aimed at bolstering Hungary's economic growth and competitiveness held its first meeting on Tuesday, Marton Nagy, the minister for economic development, said on Tuesday.

The group led by Nagy works closely with professional organisations, channeling innovative ideas from businesses into helping Hungary reach the average development level of the European Union.

This requires a self-sufficient economy that is fit for the 21st century and based on competitive businesses and a competitive economic environment, the minister said. The economy’s continued convergence calls for targeted economic development tools, the speeding up of digitalisation and a further reduction of administrative burdens, he added.

The first meeting was attended by representatives of the government, the Office of the President, the Hungarian Chamber of Commerce and Industry, construction industry association EVOSZ, the Government Debt Management Agency, the Hungarian Investment Promotion Agency and the Central Statistical Office, among other organisations.

Participants were in agreement that the war in Ukraine and rising energy prices posed a serious risk to the Hungarian economy. This, they said, called for the elimination of the barriers to economic development and freeing up reserve performance that can further boost growth and competitiveness, contribute to preserving full employment and protect Hungarian families.

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