Nagy: Reducing Inflation 'Most Important' Task for 2023

Analysis

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Reducing inflation and improving economic convergence are the "most important" tasks for 2023, Minister of Economic Development Márton Nagy said at a conference this week, reports azuzlet.hu.

Addressing the event winding up a government program to develop local companies' export capacities, Nagy said the government must take action to bring the Consumer Price Index under 10% by year-end. 

Inflation has started to slow, in line with expectations, and is set to continue to fall at an "increasing pace," he added. 

Nagy said Hungary's economy could grow around 1.5% this year, over the European Union average, but that will require support for businesses. 

He noted that the government's recently launched Gábor Baross Program schemes would make close to HUF 1.6 trillion available to firms, while funding could also arrive from Brussels, "likely by summer," he added.

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