In addition, Czerván stated that Hungary’s GDP may have grown more than 1% on average last year, over expectations, and can grow only if agricultural performance increases.
Gross value added of agriculture fell 29% in 2012 from the previous year’s prices, while total GDP decreased 1.7%. According to figures from the Central Statistics Office (KSH) released in December 2013, gross value added in agriculture increased 30% over that relatively calamitous ’12.
Agriculture exported for HUF 8.1 billion in 2012 with an international trade surplus of HUF 3.6 billion, making up more than half of Hungary’s foreign trade surplus, and these levels could have been approached last year as well, the state secretary said.
Annual land-based support will be €227 per hectare after €230 last year, but the fall will be compensated by the “change of the exchange rate course,” and licensing from the European Union is no longer needed to pay out the 50% advance from the allocation, therefore payment will begin in the middle of October, according to Czerván.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
