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Ministry of National Economy of Hungary : Acknowledgement for the Hungarian Economy

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07/12/2019 | 06:00am EDT

'It has once again been proven that the performance of the Hungarian economy is exceeding international expectations', Minister of Finance Mihály Varga declared following a meeting with Pierre Moscovici, the European Commission's incumbent Commissioner for Economic and Financial Affairs, Taxation and Customs. 'In its latest analysis, the European Commission also acknowledges the fact that the Hungarian Economy could continue to grow at a rate that exceeds the European Union average, and has significantly raised its previous forecast relating to Hungary's GDP growth for this year to 4.4 percent', the Minister said.

'The forecast published a few days ago by the European Commission highlights the fact that EU experts must also take into account the fact that the Hungarian economy's 5.3 percent growth during the first quarter of this year makes it one of the European Union's most dynamically developing countries', Mr. Varga said. As he explained: 'The Commission's Directorate-General for Economic and Financial Affairs has significantly increased its prognosis for the rate of growth of Hungary's gross domestic product for this year, compared to its previous spring forecast, by 0.7 percentage points to 4.4 percent'. 'This is yet another acknowledgement for Hungarian economic policy', added the Minister, who at the meeting referred to the fact that the most important current goal is to avoid the effects of the expected international slowdown and to protect the results achieved so far. 'The Commission is also acknowledging the fact that the Central and Eastern European region is producing an outstanding level of growth in comparison to the European Union average', he declared.

The parties also reviewed the financial and tax-related issues currently in progress between Hungary and the European Union. They agreed that the fair taxation of digital multinational companies must be realised via a comprehensive and globally accepted solution. 'Hungary insists on the fact that the sovereignty of member states with relation to the operation of a digital or similar tax must be preserved', Mr. Varga stated.

(Ministry of Finance/MTI)

Disclaimer

Ministry of National Economy of Hungary published this content on 12 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2019 09:59:03 UTC

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