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PM says that Hungary has emerged from depths of economic crisis

Recent macroeconomic data and analyses suggest that Hungary has transcended the most severe phase of the global economic crisis, Prime Minister Gordon Bajnai said over the weekend.

Speaking during a visit to the Orczy mansion currently undergoing renovation in Gyöngyös, Bajnai remarked that the government's establishment of a HUF 2,800 billion (€10.37 billion) economic-development fund, of which it has already disbursed HUF 440 billion, shows that Hungary's economy is evolving in spite of the crisis.

The prime minister noted that data showing the construction sector in Hungary to have grown 16% yr/yr in July as well as recently published economic assessments suggest that the country has already emerged from the worst part of the economic crisis. (MTI-Econews)