EUROPE RENAISSANCE NEEDS SPONSORS: Without donations, we work for nothing: would you? Contact email@example.com for details. You can also help by shopping at our online bookstore and encouraging others to do so. www.mikewalshwritingservices.wordpress.com
Final data for Hungary’s first quarter GDP data recently reported by the Central Statistical Office (KSH) have shown a marked improvement. According to all forecasts, the Hungarian economy will soar higher this year, thanks to which we will catch up with our 2019 performance.
It will be an unparalleled achievement because most Western economies will only be able to show the same no progress results in a year’s time.
In a quarterly comparison, the Hungarian economy expanded by 2 per cent, which exceeded all forecasts. In addition, the country has already resumed its growth in the last quarter of 2020. In other words, we were able to experience a series of surprises: the figures published earlier also reflected a positive mood, the current figures, which are slightly better, can be said to be unexpected and suggest that the Hungarian economy is continuing to catch up and overtake ~ without the assistance of a single migrant or likely because of a lack of the migrant drain on the economy.
From the detailed data provided by the KSH, it can be seen that on the production side, industry and agriculture were able to show a positive result in terms of the contribution to economic performance in annual comparison.
At the same time, all sectors are beginning to recover, although there is no doubt that the service economy were still in the red due to the effects of the epidemic, but this was offset by the development of our exports. Overall, the figures from the statistical office support that the main sectors have already achieved surpluses.
Based on the latest data and details provided by the KSH, it is clear that as a result of the reopening, there will be a very significant growth potential in the Hungarian economy during the second quarter. In these months, services can be expected to pick up, and in the second half of the year, a combination of industry and construction will join.
Given the circumstances, the double-digit economic growth forecast for the second quarter, around 12 to 14 percent, seems justified. It can be quickly concluded that the Hungarian crisis management has yielded encouraging results in comparison with the other nations making up the European Union. In contrast to domestic growth, the EU shrank by an average of 0.4 percent, while Eurozone countries shrank by 0.6 percent.
The robust performance of the Hungarian economy clearly indicates that we have a strong foundation, even with some restrictions still in place. Of course, the quarterly figure also predicts that as soon as restrictions ease and restrictions are lifted, explosive growth could develop.
Market forecasts already show growth figures of more than 7 percent on an annual basis, which may be weakened at most by the epidemic and whether a second, more intense, wave develops. The duration and strength of vaccine protection will also play a critical role.
In this respect, too, the good news is that Hungary is in a good position relative to the EU in terms of vaccination. It already seems that the government’s decision not to rely solely on EU vaccine procurement was the right one.
And those who are afraid of an election budget should carefully review the bill on the central budget. There are no labelled, extraordinary benefits or aids in it. However, instead of beer and sausages, the government will reallocate 7,300 billion forints, or 13 percent of the GDP, in the draft budget for next year to restart the economy. And already this year huge sums are being spent on various investments.
This includes the fact that the Hungarian deficit and debt ratio does not stand out in Europe. For those who may have forgotten, the lesson of the 2008 global economic crisis was that it would not be appropriate to close the central money flow too quickly, as it would hold back growth and spark job losses.
Title image: Aréna Pláza shopping mall in Budapest. (source: nepirockcastle.com)
PLEASE: We can only bring these vital stories to public notice if we receive financial support. Please contact Michael Walsh at firstname.lastname@example.org
Think your friends would be interested? Share or reblog this story!
MICHAEL WALSH is a journalist, broadcaster and the author of RISE OF THE SUN WHEEL, EUROPE ARISE, TROTSKY’S WHITE NEGROES, MEGACAUST, DEATH OF A CITY, WITNESS TO HISTORY, THE BUSINESS BOOSTER , THE FIFTH COLUMN VOLUME I and II, FOR THOSE WHO CANNOT SPEAK, IMMORTAL BELOVED, THE ALL LIES INVASION, INSPIRE A NATION Volume I, INSPIRE A NATION Volume II , SLAUGHTER OF A DYNASTY , REICH AND WRONG, THE RED BRIGANDS, RANSACKING THE REICH , SCULPTURES OF THE THIRD RIECH: ARNO BREKER AND REICH SCULPTORS , SCULPTURES OF THE THIRD RIECH: JOSEF THORAK AND REICH SCULPTORS , SCULPTURES OF THE THIRD REICH VOLUME III Porcelain and Reich Sculptors, The Exiled Duke Romanov Who Turned Desert Into Paradise , THE DOVETAILS , SEX FEST AT TIFFANY’S, THE AMOROUS GHOST AND ENCOUNTERS and other book titles. These illustrated best-selling books are essential for the libraries of informed readers.
MICHAEL WALSH NOVELS
The revenge of a predator is a city-vigilante epic better than Death Wish A LEOPARD IN LIVERPOOL , 55 lavishly illustrated first-hand stories by a Liverpool sailor THE LEAVING OF LIVERPOOL, Latest Killer-Thriller From Michael Walsh the City Vigilante Supremo The Stigma Enigma , A powerful thought-provoking paranormal romance The Soul Meets, How to form a naughty ménage a trois THE DOVETAILS and SEX FEST AT TIFFANY’S.
THE AMOROUS GHOST AND ENCOUNTERS Michael Walsh. A novel but not a work of fiction. Drawing on his real-life and location experiences this romantic-supernatural biography will ravish the reader. A page-turning terrifying white knuckle ride because these are his real-life apparitional experiences. AMAZON/KINDLE
Latest Michael Walsh bestsellers: Those who fall victim to the taxman, banks and moneylenders are victims of legalised mugging DEBTOR’S REVENGE, The Business Booster shows you how to double your profits not your workload THE BUSINESS BOOSTER
MICHAEL WALSH is a journalist, author, and broadcaster. His 70 books include best-selling RHODESIA’S DEATH EUROPE’S FUNERAL, AFRICA’S KILLING FIELDS, THE LAST GLADIATORS, A Leopard in Liverpool, RISE OF THE SUN WHEEL, EUROPE ARISE, FOR THOSE WHO CANNOT SPEAK, THE ALL LIES INVASION, INSPIRE A NATION Volume I, INSPIRE A NATION Volume II, and many other book titles. These illustrated best-selling books are essential for the libraries of informed readers.
We are in debt to our donors who finance the distribution of spin-free real news and fearlessly expressed views.
BUY FROM AUTHOR
MEGACAUST Michael Walsh. R. J. Rummel, Power Kills: Genocide and Mass Murder (Journal of Peace Research) 164 million people have been killed in cold blood this century by Capitalist / Communist governments.
SLAUGHTER OF A DYNASTY Michael Walsh. Covertly sponsored by Wall Street banks and the White House Bolsheviks seized Tsarist Russia (regime change). For 36 years news of Bolshevik atrocities and 70 million martyred Christians were censored by Western media. Lavishly illustrated, this expose reveals secrets removed from Western history books.
When ordering the book contact Michael Walsh by email email@example.com to receive your signed copy.
KEEP REAL NEWS OPEN: Donate by using Western Union, MoneyGram, Ria, registered mail or contact Michael Walsh: firstname.lastname@example.org or email@example.com 2) Follow our blog. 3) Share our stories and 4) buy our author-signed books. 5) Receive free newsletters by writing subscribe to firstname.lastname@example.org
BOOKS THAT CHALLENGE, INSPIRE, INFORM Michael Walsh, ‘Writer of the Year’ with a strong global following. Nearly 70 interesting Amazon book titles famed for changing and improving lives. CLICK TO VIEW
New stories every day!
Categories: Current Events