Ministry prepares new stimulus package

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Géza Dede/Ministry for National Economy

The Ministry for National Economy is preparing a new package of stimulus measures, which could go before the government - or, if necessary, Parliament - in September, Economy Minister Mihály Varga told conservative daily Magyar Idők on Saturday.

Economy Minister Mihály Varga. (Photo: Géza Dede/Ministry for National Economy)

The goal is to raise Hungaryʼs GDP growth rate to at least 3-5% through steps such as reducing the unemployment rate to 3% from around 5% at present, while launching retraining programs to ease labor shortages, Hungarian news agency MTI quoted the minister as saying. 

Varga said he sees a need to support industries that have big growth potential – such as chemicals, pharmaceuticals, tourism and renewable energy.

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