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GOVT ECONOMIC POLICY GEARED TO FIGHTING CORONA FALLOUT

 

The government is focusing on seven areas to moderate the negative effects of the pandemic and to put the economy quickly on a growth path once it is over, Márton Nagy, an advisor to the prime minister, said in an interview to the business daily Világgazdaság. Every economic measure is being formulated in harmony with the three main goals stated by the prime minister: jumpstarting the economy, protecting families and developing areas of the country outside the capital, Nagy said. The seven areas are support for family households, addressing demographic problems, extending the debt repayment moratorium, support for investments, boosting the financing capacity of specialised state financial institutions, making effective use of European Union resources and investing abroad. Hungary can maintain its economic growth rate 2 percentage points above the EU average, he said. This year’s 5-6% GDP contraction will meet this target if annual growth next year is 5%, he added. Nagy also said it may be possible to raise the number of completed homes to 44,000 a year and meet the target of stock renewal.