World Bank Sees Recession In Hungary In 2012
- 5 Jul 2012 9:00 AM
The World Bank expects the Hungarian economy to fall into recession this year, shrinking by 0.4% before growth returns next year at 1.5%, according to a forecast for the Central Eastern European and Baltic regions. Hungary will be one of three countries in the group to post negative growth this year.
The World Bank's projections for 2013 are only slightly below the government’s 1.6% growth target, on which the draft budget numbers are based.
Economic growth in Central Europe and the Baltic states will slow down this year to half that of 2011 but is projected to pick up in 2013.
Source: Hungary Around the Clock
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