Hungary’s economic indicators are showing promise, although some areas such as the potential rate of growth will remain sluggish in the foreseeable future, Zsigmond Jarai, former governor of the central bank, said on Wednesday.
Jarai, who is currently member of the bank’s supervisory board, told the Hungarian Business Leaders’ Forum that economic growth has taken off and macroeconomic indicators are showing improvement.
He said it was right to recognise in 2010 that the public deficit must be kept under control. Budget consolidations carried out since then initially had a negative impact on growth, but by now are showing positive results, he said.
He added, however, that the catch-up in other areas which are at low levels, including the potential rate of growth, employment and investments, would take longer.