Nov 21, 2019, 11:45 am
(This post was last modified: Nov 21, 2019, 11:50 am by Resurgence. Edited 2 times in total.)
Hungary is doing very well.
The economy grew by 4.8 per cent during the third quarter of 2019 compared with the corresponding period of the previous year, the highest level among all EU member states, Eurostat has reported.
That growth spans the economy, from the manufacturing sector to construction and tourism.
Hungary spends around three percent of GDP on social programs, compared to the EU average of about two percent, and many of these programs focus on children and families. The country offers loan assistance to first-time home buyers as well as grants and loans and tax breaks to families who choose to have more children.
The unemployment rate is one of the lowest in the EU at 3.4%.
Hungary also has the lowest corporate tax rate in the EU at nine percent. As a result, foreign investment in the country continues to grow.
Russia is one country that sees the potential of Hungary's burgeoning economy. Trade between Hungary and Russia increased in 2018 for the first time since sanctions were put in place.
President Putin and Prime Minister Orbán recently met in Budapest to discuss Hungary joining the TurkStream gas pipeline. This would further strengthen the economy as Hungary greatly depends on Russian oil and gas.
In addition to trade agreements with Russia, Orbán said Hungary was also trying to cooperate with Russia on issues such as preventing migration to Europe, stabilizing the Middle East and aiding Christian communities around the world.
https://emerging-europe.com/news/hungary...est-in-eu/
http://abouthungary.hu/blog/heres-the-st...o-publish/
https://www.statista.com/statistics/2688...countries/
https://news.yahoo.com/hungarys-orban-go...28162.html
The economy grew by 4.8 per cent during the third quarter of 2019 compared with the corresponding period of the previous year, the highest level among all EU member states, Eurostat has reported.
That growth spans the economy, from the manufacturing sector to construction and tourism.
Hungary spends around three percent of GDP on social programs, compared to the EU average of about two percent, and many of these programs focus on children and families. The country offers loan assistance to first-time home buyers as well as grants and loans and tax breaks to families who choose to have more children.
The unemployment rate is one of the lowest in the EU at 3.4%.
Hungary also has the lowest corporate tax rate in the EU at nine percent. As a result, foreign investment in the country continues to grow.
Russia is one country that sees the potential of Hungary's burgeoning economy. Trade between Hungary and Russia increased in 2018 for the first time since sanctions were put in place.
President Putin and Prime Minister Orbán recently met in Budapest to discuss Hungary joining the TurkStream gas pipeline. This would further strengthen the economy as Hungary greatly depends on Russian oil and gas.
In addition to trade agreements with Russia, Orbán said Hungary was also trying to cooperate with Russia on issues such as preventing migration to Europe, stabilizing the Middle East and aiding Christian communities around the world.
https://emerging-europe.com/news/hungary...est-in-eu/
http://abouthungary.hu/blog/heres-the-st...o-publish/
https://www.statista.com/statistics/2688...countries/
https://news.yahoo.com/hungarys-orban-go...28162.html