Exceptional Domestic Economic Growth in International Comparison [Video]

Based on data from the Hungarian Central Statistical Office (KSH), the economy rebounded in the first quarter of 2024, with GDP growing by one percent on an annual basis and by 0.8 percent compared to the previous quarter.

Gergely Suppan, chief economist at the Ministry for National Economy, said in a statement that based on available international data, Hungarian growth is outstanding in international comparison and clearly belongs to the forefront.

On a quarterly basis, Hungarian growth is currently the second highest in the EU, ahead of countries such as Spain, Portugal, the Czech Republic, Belgium, France, Germany, and Austria,

the chief economist noted.

On an annual basis, the country’s growth is also in a leading position, he pointed out, with the third highest annual growth rate among EU countries, ahead of Portugal, Belgium, France, Latvia, Italy, the Czech Republic, Germany, and Austria.

Gergely Suppan added that the EU expanded by 0.3 percent on a quarterly basis, …