Hungarian Daily: Investment Flowing into Hungary

Investments are flowing into Hungary, and the country's economy is doing very well in EU comparison, the daily Magyar Nemzet wrote on Friday.

According to the article, the state of the Hungarian economy is increasingly being discussed in public debates, and there are many opinions in the public domain, but instead of these, it is worth looking at EU data showing the most important trends.

It goes on to say that Eurostat takes into account the data of all 27 EU Member States, and, according to the paper, it is clear that the Hungarian economy is doing quite well in a European comparison.

It points out that last year, in 2023, investment in Hungary accounted for more than 26% of GDP, a figure it calls “robust.”

The average rate for all member states was less than 22%, standing at 21.8%, with only three countries – Estonia, the Czech Republic and Romania – doing better than Hungary, it notes.

It adds that Hungary's investment rate was also high in the first six months of this year, putting it in a good position in the EU rankings: "Investment as a share of GDP in the first half of 2024 was close to 23% in Hungary, which again puts Hungary in the top half of the EU rankings, in eighth position. The Hungarian indicator is well above the EU average of 21% this year," it writes.

As for the largest investors in Hungary, the paper quotes Prime Minister Viktor Orbán as saying that the Germans have deposited EUR 25 billion, the Americans have deposited nine billion, the Chinese nine billion, and then the South Koreans. “We need investment from the West and from the East, and we need investment resources," he says.