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The state of the economy in 2019

December 30th, 2019

The leading pro-government dailies find Hungary’s economic performance on schedule to meet the government’s target of reaching the EU GDP average by 2032.

In Magyar Nemzet, Gábor Regős writes that 2019 has been a good year for the Hungarian economy. The pro-government Századvég think tank analyst notes that the GDP in the first three quarters grew by 5.1 per cent year on year, while the deficit remained low and the employment rate grew further. Despite the economic slowdown in Germany, Hungary has done well due to lower wages, Regős adds. He acknowledges, however, that faster real wage growth is necessary in the public sector to sustain education and health care.

Magyar Hírlap’s Sándor Faggyas thinks that since 2010, Hungary has grown fast, and if the process continues, the government may achieve its goal of catching up with average EU development levels by 2032. The pro-government columnist writes that under the former Socialist-Liberal governments between 2002 and 2012, Hungary did not draw closer to European GDP levels, but since then GDP output has risen from 65 to 74 per cent of the EU average.

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