Thanks to the past 3 years' government actions Hungarian economy now shows an increasing trend. With paying the IMF loan back before it was due the country proved it is economically independent and capable of financing itself. This fact is even more remarkable knowing the county has come out of the crisis in a technical sense as well.
According to the words of Minister of State for Taxation and Monetary Affairs Gábor Orbán Hungary's economic politics are heading the right direction, no structural reforms are needed nor expected, but smaller modifications can be made. The Hungarian government is currently focusing on maintaining the increasing trend. The number of unemployed people finding a new job is also increasing, and the purchasing power of wages is established as well. Thanks to the government actions made in order to decrease the households' expenses the inflation rate hasn't been this low for forty years.
Economic Growth is Proven by Numbers
Hungary has come out of the crisis in a technical sense as well: in the second quarter of 2013, in accordance with the expectations of the financial experts Hungarian economy grew by 0.5 percent compared to the same period of the previous year. According to the expectations, thanks to the reduction of the public utility tariffs and the low inflation rate the household consumption power will also increase.
More and More People Find a New Job
The fact that the retail sales increased by 3.5 percent compared to the data of last year promises great expectations for the remaining part of the year. The fact that thanks to the government's Job Protection Action Plan 730 people found a new job is promising as well. Amongst the 730 newly employed 356 thousand are over 55; 220 thousand are unskilled; 115 thousand are under 25; 30 thousand are mothers with small children and 11 thousand have been unemployed for a long time. Unlike the European trends, the number of the newly employed people in Hungary shows an increasing trend: in the second quarter of 2013 3 million 931 thousand people were employed, which is 55 thousand more than in the same period of last year.
Source:
www.xpatloop.com
