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Hungarian economy grows by 5 per cent

November 16th, 2018

A pro-government columnist welcomes the latest high growth figures as proof of the correctness of the government’s economic policies

On Tuesday, the Central Statistical office reported that in the third quarter, economic growth was 5 per cent year-on-year. Analysts had expected only 4.3 per cent due to slower growth in the EU. The annual growth rate may be as high as 4.5 per cent, which would be the highest in 14 years.

In Magyar Hírlap, Gábor Putsay hopes that rapid growth can be maintained, and Hungary will catch up with Austria by 2030, as desired by Prime Minister Orbán. The conservative analyst acknowledges that this is a very optimistic projection, but interprets sustained Hungarian GDP growth as an indication that the economy is in good shape. Putsay recalls that in the early 2010s, Hungary was mentioned alongside Greece as the weakest and riskiest economies in Europe, but now it has the second highest growth rate in the EU. The success of the economy proves the economic policy of the government and the National Bank right, he concludes.

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