Hungary becomes one of most important investment destinations in world

Hungary has become one of the most important investment destinations in the world, a state secretary from the Hungarian Ministry of Innovation and Technology said here on Thursday.

“As a result of macroeconomic consolidation and investment-friendly environment, Hungary has become one of the most important investment destinations in the world,” State Secretary for Economic Strategy and Regulation László György told a conference of the Joint Venture Association.

“Last year the government concluded 101 large-scale investment agreements worth 1,705 billion forints (5.66 billion U.S. dollars), representing 4 percent of GDP,” György added.

Since 2014, the real deficit has been below target every year, effectively reducing public debt, according to György, who also stressed that the Hungarian economy has become much more resilient than it was in 2008.

In 2019, Hungary’s GDP expanded by 4.9 percent, after 5.1 percent in 2018.

Source: Xinhua – BUDAPEST