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Hungary economic policy turned around, but still in danger zone - Orbán

Although Hungary's economic policy has been turned around, it is still in the danger zone, Prime Minister Viktor Orbán said at a conference on Tuesday assessing the government's first year in office.

The new formula for Hungary's economic policy is "growth plus work equals financial balance", Orbán said. The most pressing task is to expand planning and coordination at the national economy level vertically, horizontally and by sector - on this depends the success of government and the country's economic policy, he added.

"While we have written off the theoretical fundamentals of the neoliberal era, we still have not developed the planning and coordination framework and practice for a 21st century economic policy that is not liberal," he said. Because real economy planning has not been developed, financial planning also stands on one leg, he added.