Hungary not planned economy, says Varga

Conferences

A market economy, not a planned one, operates in Hungary, National Economy Minister Mihály Varga said in an interview published in German periodical Welt am Sonntag. In 2010, Hungary launched a new economic policy, but the government assessed that a market economy was most profitable for society, Varga said, rejecting criticism that policy measures resemble economic planning. “Every country lives its own kind of capitalism,” he said, adding it was enough to compare Germany, the United States and China to see this. He also dismissed criticism that Hungary's assessment among investors had deteriorated and said that government efforts to stabilize the economy are attractive to investors, including a new tax regime. Varga said Hungary's talks with the International Monetary Fund on precautionary financial assistance would continue at a meeting starting in Washington in the coming week. Hungary sought a financial “safety net” from the IMF in November 2011, but talks on the credit have since stalled.

ADVERTISEMENT

Job ads in hospitality, tourism sector grow drastically  Analysis

Job ads in hospitality, tourism sector grow drastically 

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.