The government targets a return to GDP growth of 4% next year, Nagy said. Achieving that goal will require a recovery in household consumption, a pickup in domestic production, and an increase in labor market activity, he added.
He acknowledged that real wages were on the rise again but said consumer confidence would need to improve for households to ease their caution when it comes to spending.
He said the government would launch a new credit program early in 2024 with the aim of keeping the investment rate above 25%.
Hungary's economic activity rate in the 16-64 age group must be raised from 75% to 85%, a goal the government aims to achieve with a targeted labor market program, he added.
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