Hungary’s economic policy adviser, Marton Nagy, said Wednesday on public radio, the day after the release of preliminary GDP data for the second quarter, according to the government’s MTI report, that Hungary’s full-year economic growth could be “about 7%” in 2021.

Nagy told Kossuth Rádió it can be said with “a high degree of certainty” that the increase will reach the 5.5% threshold, reducing personal income tax for families with children.

Hungary’s economy grew 17.9% year-on-year in the second quarter, the Central Statistical Office (KSH) reported on Tuesday.

Nagy noted that the GDP data for the second quarter puts Hungary ahead, whose economic results have improved: Sweden, Poland and Romania.

It found that factories that closed in the base period were at full capacity in the second quarter, while the hospitality and commercial accommodation industries reopened and consumption rebounded. The construction, trade and services sectors are also strong, he added.

The consultant also acknowledged the risk of further waves of the epidemic, but said the restrictions are likely to be less comprehensive, citing the example of Israel, where restrictions are not as severe as before, despite the obvious presence of a delta variable.

Business magazine support in Budapest

Producing journalism worthy of that name is an expensive business. For 27 years, Budapest Business Journal editors, editors and reporters have tried to bring you successful business news and information you can trust, that is factual, accurate, and delivered without fear or favour.

Press companies around the world have struggled to find a business model that would allow them to continue to do well without compromising their productivity. Recently, some have experimented with the idea of ​​engaging key stakeholders, i.e. readers.

See also  Biggest daily rise in COVID-19 cases so far as Middlesbrough enters local lockdown

We would like to offer this opportunity to our readers as well. We would like to invite you to help deliver the quality business journalism you need. Click our Support BBJ button and you can choose how often and how often to submit your posts to us.