FinMin: Hungary's economy relaunching faster than in other EU countries

Brussels has recognised that Hungary's economic relaunch is happening at a faster pace than in the EU countries, Mihaly Varga, the finance minister, said in a statement after a meeting of EU finance ministers (ECOFIN). The European Commission has made a major revision to its Hungarian growth forecast, from 5 percent to 6.3 percent this year, according to a Ministry of Finance statement released on Tuesday. Growth of 5 percent is expected next year as opposed to forecasts of 4.5 percent for the bloc as a whole. "We're a step ahead of other EU countries," Varga said.