Hungary Investment Volume Growth Slows to 5.9 pc in Q4
MTI-Hungary Today 2020.02.28.
Investment volume in Hungary rose 5.9 percent year-on-year in the fourth quarter, the lowest rate since Q4 2016, data released by the Central Statistical Office (KSH) on Friday show.
In absolute terms, investments came to 3,752.2 billion forints (EUR 11.1bn) during the period.
Construction investments increased by 8.9 percent, reaching 2,287.2 billion forints. Machinery investments climbed 1.6 percent and stood at 1,443.3 billion forints.
Manufacturing sector investments fell 5.5 percent, reaching 947.9 billion forints. Investments in vehicle manufacturing dropped by “a remarkable scale”, but were also down in most other segments, KSH said. Investments in machinery and equipment were up because of long-running high-value projects, it added.
Investments in the central government sector, including defense and social security, were up 4.6 percent. In the commerce and vehicle repair segment, investments increased by just 1.9 percent, but in farm sector investment volume was up 8.5 percent.
Investments in the education sector edged down 0.1 percent, investments in health and social services increased by 9.6 percent and they jumped 32.7 percent in arts and entertainment.
Finance Minister Mihaly Varga said commenting on the KSH figures that the record-high investment carried out last year placed Hungary in the frontline in European Union comparison.
Investment growth is expected to help economic performance in the coming years, with developments to further boost growth once new production capacities are in place, he said.
“If investments are coming and outlooks are good then there is hope that more jobs will be created and capacities will expand in the years ahead,” he added.