Economy Set to Achieve One of the Highest Growth Rates in the EU [Video]

The government will gradually reduce the budget deficit and public debt in the coming years, while the Hungarian economy is set to achieve one of the highest growth rates in the European Union, according to the Convergence Program sent by the Ministry of Finance to the European Commission on Tuesday.

The Ministry of Finance said in a statement that the forecast shows rising employment, improving unemployment, rising wages, and falling inflation in the coming years.

They pointed out that the period since the release of the 2023 Convergence Program has been characterized by the containment of inflation and the restoration of external balance. Despite the unfavorable external environment, the fundamentals underpinning economic growth are strengthening, the document emphasized, noting that real wages have been rising steadily since September 2023, supporting household consumption and economic growth.

The program forecasts growth of 2.5 percent in 2024, and 4.1 percent in 2025, after which the Hungarian …