Politics

Hungary´s Economy to Recover?

Published: February 7, 2013; 18:27 · (Vindobona)

Hungarian Minister of Economics György Matolcsy says that the country may achieve the turnaround this year. Last year, several adverse factors occurred at the same time, Matolcsy explained.

Hungary´s Economy to Recover? / Picture: © Flickr

In 2012, Hungary´s GDP was down by 1.5%, Matolcsy said today at a press conference. This is mainly due to the decreasing consumption, the catastrophic drought and the withdrawal of funds. Solely the drought has caused a GDP cut by 1.0%, he says. Furthermore, the EU has reduced subsidies by € 1.7bn, which corresponds to more than 1.5% of GDP. Besides that, domestic consumption shrank…

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Hungary´s Economy to Recover?

Hungarian Minister of Economics György Matolcsy says that the country may achieve the turnaround this year. Last year, several adverse factors occurred at the same time, Matolcsy explained.

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