Hungarian Minister Calls for Increased European Economic Competitiveness
Hankó Balázs stresses the importance of competing with the US and China for a stronger European economy.
On Saturday, Hungarian Minister of Culture and Innovation, Hankó Balázs, highlighted the need for a shift in Europe's economic competitiveness to strengthen the continent's economy.
Speaking at the 24th Jászsági Manager Ball in Jászberény, Balázs emphasized Europe's necessity to keep pace with economic powerhouses such as the United States and China.
The minister drew parallels to Hungarian history, referencing the symbolic power of 'Lehel's horn' during Hungary's previous presidency of the European Union.
He stated that a focus on competitiveness and normality is essential for Europe to grow stronger.
In addition to competitiveness, Balázs noted that the Hungarian government prioritizes family security and peace within the framework of the European Union's policies.
He referenced the 'redemption' or self-liberation tradition of the Jász people, rejecting any measures that might compromise these rights.
Highlighting economic initiatives within Hungary, the minister outlined government plans to double family tax allowances by 2026 and begin a rural home renovation program.
In support of businesses, he mentioned the Demján Sándor Program, which allocates 1,400 billion forints, supplemented by 131 billion from the innovation budget, to boost innovative enterprises.
According to Balázs, companies focusing on innovation pay 31% more, are 58% more efficient, and have employment rates that are 2.5 times higher than non-innovative firms.
Among other measures, Balázs announced the launch of 'work credit' loans.
Graduates from vocational training programs are eligible for a zero-interest loan of 4 million forints to facilitate their transition into the workforce, thereby contributing to the Hungarian economy.
The minister also praised Hungary's vocational training system, which he claimed ranks second in Europe and fifth globally.
He further expressed pride in the initiation of a mechanical engineering program at Eszterházy Károly Catholic University and Óbuda University in Jászberény, aimed at advancing both the local and national economy.
Speaking at the 24th Jászsági Manager Ball in Jászberény, Balázs emphasized Europe's necessity to keep pace with economic powerhouses such as the United States and China.
The minister drew parallels to Hungarian history, referencing the symbolic power of 'Lehel's horn' during Hungary's previous presidency of the European Union.
He stated that a focus on competitiveness and normality is essential for Europe to grow stronger.
In addition to competitiveness, Balázs noted that the Hungarian government prioritizes family security and peace within the framework of the European Union's policies.
He referenced the 'redemption' or self-liberation tradition of the Jász people, rejecting any measures that might compromise these rights.
Highlighting economic initiatives within Hungary, the minister outlined government plans to double family tax allowances by 2026 and begin a rural home renovation program.
In support of businesses, he mentioned the Demján Sándor Program, which allocates 1,400 billion forints, supplemented by 131 billion from the innovation budget, to boost innovative enterprises.
According to Balázs, companies focusing on innovation pay 31% more, are 58% more efficient, and have employment rates that are 2.5 times higher than non-innovative firms.
Among other measures, Balázs announced the launch of 'work credit' loans.
Graduates from vocational training programs are eligible for a zero-interest loan of 4 million forints to facilitate their transition into the workforce, thereby contributing to the Hungarian economy.
The minister also praised Hungary's vocational training system, which he claimed ranks second in Europe and fifth globally.
He further expressed pride in the initiation of a mechanical engineering program at Eszterházy Károly Catholic University and Óbuda University in Jászberény, aimed at advancing both the local and national economy.
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