Hungarian Economy Grows 6.5% In Second Quarter Of 2022 - Finance Ministry

Hungary's GDP rose by 6.5% in the second quarter of 2022, demonstrating one of the best results among the European Union members, the country's Finance Minister Mihaly Varga said on Wednesday

BUDAPEST (UrduPoint News / Sputnik - 17th August, 2022) Hungary's GDP rose by 6.5% in the second quarter of 2022, demonstrating one of the best results among the European Union members, the country's Finance Minister Mihaly Varga said on Wednesday.

"Good news! The Hungarian economy grew 6.5% in the second quarter! After 8.2% growth in the first quarter, the economy is still buoyant," Varga said on social media.

The minister noted that the Hungarian economy stepped up its growth and is now "among the first in the EU rating" despite the ongoing conflict in Ukraine.

"All sectors, except drought-stricken agriculture, contributed to this growth: industry, trade, tourism, finance and the information and communications sector performed well. Labor is the basis of the Hungarian economy's efficiency this year the number of employed people exceeded 4.7 million, and unemployment reached a record low, approaching 3%," Varga said.

The Hungarian government is committed to protecting economic growth even in times of crisis, preserving jobs and further reducing the deficit and national debt, the official said.