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Hungarian Minister: Infrastructure development should be launched

Staff writer ▼ | October 2, 2015
At the event Budapest Economic Forum 2015, Minister János Lázár said that in the next few weeks, the bovernment will start examining as to what means are available for maintaining the country’s economic growth.
János Lázár
Hungary   A growth rate in excess of 2 percent is an absolute must
A growth rate in excess of 2 percent is an absolute must for Hungary. In this context, Lázár drew attention to a number of risks, mentioning among these the volume of corporate lending which will need to increase significantly already in the first half of 2016 both on the part of commercial banks and regarding the placement of state funds.

As a goal, he pointed out, the Hungarian Investment Bank (Magyar Fejlesztési Bank) should place minimum HUF 500 billion already next year, while the system of savings cooperatives and the postal service must be reinforced in the fields of agricultural lending and green bank functions.

He further urged the reduction of red tape and of the number of people living off bureaucracy – an issue which the Government should, in his view, decide on within 3 to 6 months – because “it is impossible to sustain economic growth in the long run with such bureaucracy and so many people living off bureaucracy”.