2021 GDP growth could be around 7% - PM economy advisor
Márton Nagy
Hungary's full-year economic growth could be "around 7%" in 2021, Márton Nagy, the prime minister's advisor on economic policy, said on public radio on Wednesday, a day after preliminary Q2 GDP data were released, according to a report by state news wire MTI.
Nagy told Kossuth Rádió it could be said "with a high degree of certainty" that growth would reach the 5.5% threshold triggering a personal income tax rebate for families with children.
Hungary's economy grew at a year-on-year rate of 17.9% in Q2, the Central Statistical Office (KSH) said on Tuesday.
Nagy noted that the Q2 GDP data puts Hungary among the "frontrunners" whose economic performance has recovered: Sweden, Poland, and Romania.
He noted that factories that shut down in the base period were operating at full capacity in Q2, while the catering and commercial accommodations industry re-opened and consumption rebounded. The construction, retail, and service sectors were also strong, he added.
The advisor also acknowledged the downside risk of further pandemic waves, but said restrictions would probably be on a smaller scale, pointing out the example of Israel, where restrictions aren't as tight as earlier in spite of the marked presence of the delta variant.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
