Hungary has a good chance to return to the path of economic growth, Deputy Prime Minister Tibor Navracsics said at the foundation ceremony of a new mill in Veszprém on Wednesday.

Hungary's construction sector has seen a 10% increase in investments, which is a clear sign that the economy has started expanding, the Deputy Prime Minister stated. He noted that the European Union had lifted its excessive deficit procedure against Hungary and it was widely accepted that the country could keep its budget deficit below 3% of GDP in 2013-2014, which promoted investor confidence.

At the ceremony, the foundation stone was laid for a new mill to replace an old facility in the city centre, which will be closed. Local company Szatmári Malomipar will build the new mill on the outskirts of Veszprém out of a budget of 1.7-1.8 billion forints and employ 51 people to run the facility.

(MTI, Ministry of Public Administration and Justice)