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Hungary is moving fast toward prosperity

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The highest officials of Hungary promise stable growth up to 3% GDP in the near perspective due to structural changes. After the modest figures in the first quarter, Hungary’s industry performed unexpected economic growth of 4.8% in the second quarter. In addition, industrial output has contributed over 6%. Hungary has reached EUR 2.8 billion budget deficit, which is so far only 64% of the planned in 2018.

Actually, the country is witnessing upward development in a recent couple of years. Salaries, as well as domestic consumption are rising. That is why the authorities are determined to devote 1.8% of GDP to research and development in the next 2 years. Following the health care funding, abundant investments will be allocated to the education system, infrastructure, innovation, climate policy development and technology.

Hungary is approaching top-20 most innovative EU countries, holding the 22nd position so far. The government has set an ambitious plan to push Hungary to the list of top-5 most liveable European countries in a decade.  Be as it may, the Eastern European country turned out to be the seventh targeted economy for the investors in 2017, according to IBM Global Location Trends report.

Source: hungarytoday.hu

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