Varga: ʼWe’ve started climbing back upʼ

Government

Alexandros Michailidis / Shutterstock.com

Minister of Finance Mihály Varga posted on his Facebook page, stating that the Hungarian economy is starting to climb out of a very deep recession.

Alexandros Michailidis/Shutterstock.com

Varga indicated that the Ministry of Finance has a Weekly Economic Index (HGI), which in the past has moved relatively closely with real GDP performance and now reported a figure that the annual recession rate may have been 9.9% in the second quarter.

It is also a newsworthy indication that HGI has already shown “only” a 2.3% decline in the week from June 29 to July 5 on an annual basis and, according to Varga, the chart indicates that “we’ve started climbing back up.”

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

Gov't adopts Smart Specialization Strategy Government

Gov't adopts Smart Specialization Strategy

Manager screenings - not just for managers Interview

Manager screenings - not just for managers

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.