Stable and rapid economic growth shows that the economy policy based on wage hikes and tax cuts has been bearing fruits, and thus the standard of living of Hungarians has improved substantially, Mihaly Varga said.
The minister of national economy was commenting on the latest GDP flash report of 2017 released by the Hungarian Central Statistical Office (KSH).
Government website Kormany.hu reported that in Q4 2017 and in the year 2017, the volume of GDP grew by 4.4 percent and 4.0 percent year-on-year, respectively. In his analysis of the data the Minister pointed out that in 2017 there were three working days less than in 2016, of which two were missed in the last quarter. GDP data which take these factors into account and are used for EU statistics show an even more favourable picture. According to these, GDP was up by 4.2 percent last year and by 4.8 percent in the last quarter. These figures are remarkable even from a historic perspective: these KSH data have been the best since 2005, he added.
