If there will be an overall 10-12 percent wage increase, then Great Martin inflation will be in the range of 5-6 percent next year, if the wage outflow is in the single digits, then it is expected to be in the range of 4-5 percent – the Minister of Economic Development spoke about this on Inforádio.
He added that in order to restore consumption and economic growth, it is necessary to return to the 4-5 percent real wage increase, but the companies must produce this, and until then, a 10-12 percent increase is needed to boost consumption.
At the same time, it is a problem that people have become too cautious and the previous 5-6 percent savings rate has now doubled. Nagy believes that the reasons for this are high inflation, fear of a slowing economy and high yields.
The minister also addressed the Hungarian National Bank, he believes that “the central bank operates in cyclops mode, it only monitors inflation”, while in his opinion, in the single-digit inflation range, it is no longer true that there is a close connection between inflation and growth.
In the interview, Nagy also claimed that the Hungarian economy proved in 2023 that it can maintain stability even without EU funds, and that in 2024 Hungary’s GDP will grow the fastest even if there are no EU funds.
He also talked about the planned reduction of more than 10 euros in the system usage fees for industrial energy users, and since it is a matter of competitiveness and this item is one of the most expensive in our country, the fees will be revised in June.
Regarding the imminent purchase of Budapest Airport, the Minister of Economic Development stated that “we are making good progress”, but we still need to agree on the purchase price, the terms and conditions and the airport’s creditors. “We want to conclude the signing of the sale by the end of the year,” added Márton Nagy, noting that “we will not be ashamed of the price.”