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FINMIN: TRUST IN HUNGARIAN ECONOMY UNSHAKEN

 

US companies continue to place their trust in the Hungarian economy, and the government provides tax cuts and investment support to further improve the business environment, Finance Minister Mihály Varga told the US-Hungarian Business Council. The council met for the 6th time in Budapest on Thursday, with the top brass of 10 US corporations meeting Varga in the ministry building. Varga noted at the meeting that while last year’s event had focused on job protection, this year’s agenda features the opportunities the Hungarian economy, which is expected to expand by over 7% this year, offers to investors. “We count on US investors in our work to relaunch the economy,” he added. The US is the largest non-EU investor in Hungary, with trade volume reaching 5.8 billion dollars in 2020, he said. Despite the coronavirus pandemic, US companies created some 2,500 jobs in Hungary in 2020, he said.