Hungary: The quest for innovation

摘要

It was the European Union's second-most dynamic economy, with 4.9 percent growth in gross domestic product recorded in 2019, ranked 16th in the world for foreign investments. Like most economies, Hungary took a serious hit with the COVID-19 pandemic; but could its pre-crisis dynamism and strong fundamentals help speed its recovery and preserve investments? Yes, say the experts. "We estimate 6 percent economic contraction in 2020, but we could recover the bulk of that this year and hope to continue growing from mid-2022," asserts Mihaly Patai, deputy governor of the central bank, who predicts the country will maintain a growth rate 2-3 percent above the eurozone average. Hungary has handled the health aspects of COVID-19 well, claims Zoltan Kovacs, Secretary of State for International Communication and Relations, and International Spokesman for the Cabinet Office. "Our control stands out positively by global comparison, as does the package of measures we introduced to protect the economy."