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Hungarian industrial output climbs 6.8 pc in August

Hungarian industrial output climbs 6.8 pc in August

BUDAPEST: Hungary’s industrial output rose by an annual 6.8 percent in August, the Central Statistical Office (KSH) said in a first reading of data on Friday. Growth accelerated from 0.2 percent in the previous month. August output rose at the same pace when adjusted for the number of workdays. In a seasonally- and workday-adjusted month-on-month comparison, output rose by 5.5 percent. In January-August, industrial output was up by an annual 5.1 percent compared to the same period last year. Economy Minister Mihály Varga said that the sector can take advantage of the European boom and the expansion of export markets. Citing projections, the minister said he expected a further rise in output in the remaining part of the year. In line with Hungary’s plans, the proportion of industry within the economy has increased from 22 to 26 percent and the planned major development projects will pave the way for a further increase, Varga said. Can the wage union idea be put into practice? Why is the migration crisis less of a pressing problem for the European Union than the wage gap between western and eastern member states? What are the responsibilities of EU leaders in this situation? Is the Hungarian government truly fighting against the colonization of our country as Viktor Orbán claims, and could Fidesz’ “political creatures” fattened up from the taxpayers’ money pull the Hungarian economy out of the slump? These were some of the issues addressed by professor of economics Péter Róna in his lecture held in Kévés Gallery.