The must-have newsletter about Hungary

Related Articles

HUNGARY AIMS TO BE 'LOCAL EXCEPTION'

The government aims for Hungary to be a "local exception amid the European continental crisis", Hungary’s foreign minister has said.
 

Hungary’s fundamentals are good and it has always emerged stronger from past crises, Péter Szijjártó told an event marking the ten-year anniversary and the opening of a new production facility of Diehl Aviation. “The basis for all this has been an investment promotion economic policy which is built on keeping tax burdens lower than anywhere else and providing support to prevent unemployment instead of introducing austerity,” he said. Hungary has faced a number of crises in the past 11 years, including financial, migratory and health crises which hit the global economy and Europe’s economy “with massive force”, he said. “Europe’s economy is suffering and … the worst is probably yet to come because the energy supply crisis which portends an extremely hard future for the European economy.” Hungary’s economic policy, on the other hand, has proven crisis-resistant as demonstrated by last year’s record figures in investment, employment, growth and exports, he said. Szijjártó noted that Diehl has completed its third production facility in Hungary manufacturing aircraft parts.