Can we say ‘mixed messages’ without cracking a smile, grin, or grimace? Today’s news held two interesting tidbits that seem to contract each other or at the very least make one go “Huh?”
Portfolio.hu, generally more of an economic Hungarian news source in English had a story titled Hungary general government debt at 85% of GDP. The first paragraph is as follows.
“Hungary’s general government consolidated gross debt at nominal value (or Maastricht debt) was 85% of gross domestic product at the end of the second quarter in 2014, financial accounts data released by the National Bank of Hungary showed on Tuesday.”
You can read the rest of the story here.
Then over in RouteNew.com: the world air service development magazine, an article discusses how the Chief Commercial Officer of the Budapest airport, Kam Jandu, is trying to negotiate with one of the American airlines to recommit to direct flights between Budapest and the US. New York City would be nice, but they have their sites on somewhere farther west. Delta did have direct flights in the past, but they dropped the route. United also tried, but the company lost interest as well.
However, this is the interesting sentence that provokes the mixed message. “Growth in Hungary is strong and it also has one of the highest GDP growth rates in Europe.”
Granted, I am not an economist and those who have more knowledge in this area than I, may just disagree with me. Yet, I stand by the claim that one of the highest GDP growth rates is less than stellar when compared to a debt at 85%.