Economic data that repeatedly beat expectations are creating an investor-friendly environment among others for large enterprises operating in Hungary, Minister for National Economy Mihály Varga said at the general assembly of the Hungarian Association of International Enterprises.
“By today it has become clear that Hungarian reforms are working: we can consider it a success that parallel to lowering state debt the country’s vulnerability to external shocks has also improved significantly, and we have managed to keep the fiscal deficit below 3 percent of GDP in each of the past three years,” he stated, adding that “we have good reason to believe that Hungary’s economic performance continues to beat the EU average.” Mihály Varga also called it a key achievement that international companies have successfully participated in and contributed to this process, through improving their performance.
The steady FDI flow has been a key factor behind productivity growth in Hungary, technology modernization, a sound growth structure and the creation of new jobs. In the first three quarters of last year, the volume of investment totalled HUF 3400bn, thanks to which the investment rate continues to exceed 21 percent, Mihály Varga said.
As a sign of their trust, large enterprises operating in Hungary have re-invested several billions of forints of profit in the Hungarian economy. The government continues to make efforts to turn Hungary into a leading investment destination of the region through boosting competitiveness, creating an investor-friendly institutional background and infrastructure as well as through active investment-stimulating measures, he said.
