Finance minister: Hungary can build on past years' results

High energy prices are pushing economies all over Europe towards recession, Hungary's finance minister wrote on social media.

ECONOMY POLITICS DECEMBER 5. 2022 17:11

“The governor of the Central Bank is right in saying that we have a problem, but the problem affects everyone: high energy prices are pushing economies all over Europe towards recession,” Finance Minister Mihaly Varga wrote on social media in response to a statement by Gorgy Matolcsy, the governor of Hungary’s Central Bank.

Every country, including Hungary, is under pressure to take steps, he wrote, emphasizing that

as the outcome of crisis management, economic growth has remained high so far (4.1% in the third quarter, which is the seventh highest rate in the EU) and employment is also high (4.7 million people are in jobs, keeping unemployment below 4%).

Hungary can build on past years’ results, the finance minister added.

ECONOMY POLITICS

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economy, Hungary, mihaly varga