Friday, February 14, 2014
Hungarian economy growing fast
Excerpt from Bloomberg (www.bloomberg.com)
The forint advanced the most in more than a week after a report showed Hungary’s economy accelerated at the fastest pace in seven years, easing the need for the central bank to take more steps to boost the recovery.
Editor's note: Good economic news from Hungary! According to this most recent article, Hungary's economy is accelerating at the fastest pace in seven years and the forint (currency) is gaining. The economic policies on the conservative Fidesz government seem to be boosting economic activity in the country and turning things around.
Since taking over power in 2010, the government has made the Hungarian economy a priority. They inherited a pretty bad economic situation from the previous socialist government who had been in power from 2002-2010. The former socialist prime minster even admitted in a leaked recording that his government had done absolutely nothing for the country
Hungary is now looking eastwards for new trading partners and new markets. Various Hungarian agricultural goods and products are in high demand in Russia, the east and in Asian countries. Hungarian Prime Minister Orbán Viktor is currently in China to sign new trade agreements. It looks as if the conservative Fidesz government will win the upcoming election. This will undoubtedly lead to 4 more years of good economic news for the people of Hungary.