Hungary must increasingly utilize domestic resources to boost growth in the coming years, said Minister for National Economy Mihaly Varga at Baile Tușnad, Romania.
“Hungary is glad to receive external resources from the EU but these are limited in use”, he added. Currently, EU cohesion funds account for some 6 percent of GDP, while development funds from domestic resources comprise 4-4.5 percent. The recently adopted industrial development and electromobility program, a new housing program and massive funding for tourism development serve for a more independent economic growth.
“It's a major achievement that we are less and less exposed to foreign lenders,” Mr Varga stated.
