Tibor Tóth stressed that the economy could be on track for a medium-term growth rate of around 4%.
The first quarter GDP data indicates that the economy is back on the growth track, he said.
The factors underpinning economic growth have been steadily strengthening, with real wages rising since September 2023, supporting household consumption. In addition, stronger exports and investment will support growth, he added.
Tóth stressed that debt reduction is also on the agenda, with the Convergence Program projecting a reduction from 73.5% last year to below 70% by 2026. He also noted that the government is committed to reducing the budget deficit, which is expected to be 4.5% this year, 3.7% next year and 2.9% in 2026.
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.
