Hungary should be contented about the economic achievements of Slovakia, said Prime Minister Viktor Orbán at the Hungarian-Slovak economic forum organised by the Hungarian Chamber of Commerce and Industry (MKIK). At the meeting, which was attended by his Slovakian counterpart Robert Fico, Viktor Orbán also noted that economic cooperation between the two countries could help in resolving other issues as well. He briefly mentioned that the Cabinet has decided on new balance-improvement measures in order to achieve a 2.7 percent budget deficit target.

It is Hungary’s interest to have successful neighbours, and so we should be glad about the Slovak economy’s achievements. If we are unwilling to accept lagging behind our northern neighbour, we must make efforts to improve our situation. On the subject of Hungarian-Slovakian diplomatic ties, the Prime Minister said that the Government was aware of controversial issues; good economic cooperation, however, can help resolve these conflicts too, he said. In his speech, he also announced new balance-improvement measures in order to ensure next year's budget deficit target of 2.7 percent. He is optimistic that instead of the previously forecast 2013 budget deficit of 2.9 percent of gross domestic product, the Government could successfully meet its 2.7 percent target.

The Prime Minister reiterated to the participants – about 250 Slovak and Hungarian entrepreneurs and government officials – the importance of Central European cooperation and close ties with Germany. He believes that next year Central Europe and Germany will contribute to European economic growth to the greatest extent. In addition, he noted that the Central European region will catch up to Western states with regard to wages, pensions and the standard of living in the next 15-20 years. Finally, he pointed out that Hungary’s future lies in Western Europe, and the success of the other member states is therefore desirable.

Minister for National Economy György Matolcsy also voiced confidence that Central Europe would be the fastest growing region of the continent during the next decade. He noted that the turnover of bilateral foreign trade was well above pre-crisis levels, adding that “Hungarian companies have now found their place in the Slovak economy.”

At the forum, Slovakian Prime Minister Robert Fico said that bilateral cooperation should be strengthened. He argued that closer economic ties would contribute to Slovakia’s economic growth, adding that it is the politicians’ responsibility to ensure the necessary conditions for cooperation between businesses. Robert Fico also said that linking up the two countries’ infrastructure and energy supply systems, as well as car production and joint efforts to draw on European Union funds, offer cooperation opportunities. He proposed that the bilateral economic forum should be made a regular government-level event.

Slovakian Minister of Economy Tomas Malatinsky said that their economy was expected to grow by 2.6 percent in 2012, based mostly on the productivity of the country's locomotive, engineering, and electronics industries.

At the forum, Hungarian Chamber of Industry and Commerce chairman László Parragh and Slovak Chamber of Commerce and Industry head Peter Mihok signed an agreement on the establishment of a joint chamber of economy and industry which will aim at promoting commercial and economic relations between the two countries.

(Prime Minister’s Office)