Output of Hungaryʼs construction sector climbed 27.3% year-on-year in November, according to raw data released by the Central Statistical Office (KSH) on Tuesday. Output grew in both main groups of construction: in the construction of buildings by 17.8%, and in civil engineering works by 40.2%.
Revenue from VAT rose HUF 403 billion last year, an increase supported by the introduction of mandatory electronic invoicing mid-year, Finance Minister Mihály Varga told MTI.
The volume of industrial output increased by 4% year-on-year in November 2018. Based on working-day adjusted data, production grew by 3.5%, according to freshly released data from the Central Statistical Agency (KSH).
Prime Minister Viktor Orbán suggested economic stimulus will be necessary to raise this year’s GDP growth to 4% at a weekly press briefing on government measures.
The press briefing was a special event, as the Prime Minister subbed in for Minister of the Prime Ministerʼs Office Gergely Gulyás, who usually entertains the questions of the press at such events.
“The government will do everything it can to achieve 4% growth this year,” Orbán said.
“Our position is that, if we don’t take stimulus measures in the first quarter, growth will be under 4%,” he added. The official government forecast for 2019 GDP growth is 4.1%, while the World Bank predicts a growth of 3.2%.
Original article: https://bbj.hu/economy/orban-stimulus-needed-for-4-growth-rate_159895
Design Terminal has announced the opening of the application process for its spring mentoring program, looking for startups that are profit-oriented yet offer services beneficial to society, says a press release sent to the Budapest Business Journal.