The volume of investments in the Hungarian economy decreased by 12.1% at the end of the third quarter of 2023, the press service of the National Statistics Office reported on November 28.
The Hungarian economy is highly dependent on the volume of investments from other countries, primarily China, then Germany and Turkey.
“In the third quarter of 2023, investment fell 12.1% year-on-year and decreased 2.2% quarter-on-quarter. Most sectors of the national economy contributed to the overall decline in investment. Investment rates increased only in the manufacturing industry, in the public administration sector, as well as in several, generally relatively small, areas.”the experts said.
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Investments in real estate construction decreased by 22%; A drop has been observed in this market since the start of the coronavirus pandemic. But in the automobile industry, investments increased by 6.8%, this is due to the interest of China and Germany in producing and selling electric cars in Eastern Europe.
Previously, the Hungarian Finance Minister said that by the end of 2024, the country’s GDP could increase by 3-4% in the best case. At the same time, the opposition accused the government of hypocrisy, because Orban’s cabinet constantly talks about sovereignty, but at the same time the Hungarian economy is too dependent on foreign partners.
Source: Rossa Primavera
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