Finance Minister Mihály Varga (Illustration) – (Photo: MTI)

Varga: Economy could grow 4-4.5 pc in 2021

Hungary's economy could grow by 4-4.5 percent this year, if enough Hungarians are vaccinated to allow pandemic restrictions to be lifted after Easter, Finance Minister Mihaly Varga said on Friday.

Speaking at a press conference on an unrelated topic, Varga said annualised second-quarter GDP growth could be “in the double digits”.

He added that the finance ministry is putting the finishing touches on a decree that will extend and broaden support for businesses suffering the effects of the coronavirus crisis.

Hungary’s economy shrank by 5 percent in 2020, according to data from the Central Statistical Office.

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