Hungary's GDP jumps 17.9 pct y-o-y in Q2

2021-08-18 02:39

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BUDAPEST, Aug. 17 (Xinhua) -- Hungary's gross domestic product (GDP) jumped 17.9 percent year-on-year in the second quarter of 2021, the Central Statistics Office (KSH) said in the first reading of data on Tuesday.

"The gross domestic product of Hungary increased by 17.9 percent according to raw data and by 17.7 percent according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2021 compared to the corresponding period of the previous year," KSH said.

"Compared to the previous quarter, the performance of the economy grew by 2.7 percent in the 2nd quarter. The main contributor to the increase was industry," KSH added.

Hungarian Finance Minister Mihaly Varga said in a message posted on Facebook that the fresh data illustrated the economic recovery in Hungary was moving forward at a pace that was "among the fastest in the European Union (EU)."

"Now our goal is to preserve the growth advantage the Hungarian economy enjoys compared to the EU, with pursuing an economic policy based on tax cuts, workplace creation, investment incentives and family support," the minister noted.
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