The finance ministry is aiming for 5.9% economic growth next year

The finance ministry is aiming for 5.9% economic growth next year

Household consumption in 2022 is likely to increase by 6.7 percent, up from 3.6 percent expected this year.

The 2022 budget law targets growth of 5.2 percent, but government measures are expected to lift consumption, according to a ministry forecast for the 2021-2025 period published on Wednesday.

Highlights

  • featured image illustration via Tibor Illy√©s/MTI

  • Personal income tax forgiveness for young employees and a rebate for households with children, as well as a pension supplement, among other measures, may add 1.63 percentage points to GDP growth next year, the ministry said.