Hungary Reduces State Debt Effectively

The country joined a few EU member states that reduced debt effectively, says minister

MH – 2016.02.29. 15:38 –

According to Minister for National Economy Mihaly Varga, the Hungarian Government’s consistent economic policy has led to reduce the government debt-to-GDP ratio to 11 percent below the EU average.

Reducing state debt is “essential for bolstering economic growth, continuing job creation and improving families’ standard of living”, he said at a conference on state debt in Budapest. He added that Hungary has achieved the largest reduction of state debt, 8.2 percent, since 2010. Hungary is also committed to achieve “a zero-deficit state budget, because that the way to secure the steady reduction of state debt in the long term”, he stated.