Hungary has joined the league of the fastest growing EU economies, as the country’s GDP reached the pre-crisis level, while the number of people in employment and the volume of investments have also risen, Minister for National Economy Mihály Varga said at the opening of a new production facility of Urbán&Urbán Ltd in Rétság, Northern Hungary.

Urbán&Urbán has built a wafer-producing site valued at HUF 3.5bn. The development project has been assisted by a HUF 995.8 million grant from the Territorial and Settlement Development Operative Programme (TSDOP).

As the Minister pointed out, the Government has managed to create a business environment which has been facilitating the expansion of enterprises active in Hungary.

As a result of common efforts, the Hungarian economy has been rebounding and economic growth is expected to be above 3 percent this year.

Mihály Varga stressed that genuine achievements can only be reached through steadfast, professional and innovative work, and the enterprise has proven to have these virtues, as “it is highly unlikely that such a small enterprise would have managed to create the largest Hungarian-owned confectionary business without these.”

The company produces 6 thousand tons of confectionary goods, such as cookies, biscuits, wafers and ginger shortbread, and it generates revenues of HUF 6.5bn per year.