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Economy Minister presents economic growth plan

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Hungary’s National Economy Minister Mihály Varga today presented the so-called Irinyi Plan, which is expected to lay the foundation for the long-term growth of the Hungarian economy, Hungarian news agency MTI reported.

The plan presented by the minister aims to increase the industrial sector’s contribution to annual GDP to 24%-30% a year by 2020. Industrial output expanded by 7.5% in 2015, showing that the industrial sector can achieve sustainable, balanced growth, the minister said, according to MTI. 

The Irinyi Plan, approved by the government in February, designates seven areas that will be key for economic development in the future, among them vehicle manufacturing, the pharmaceutical sector, and the defense industry, MTI said.

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