Former Central Banker In Hungary Assesses Economic Outlook
- 12 Dec 2013 8:00 AM
Growth in the countries of Central and Eastern Europe is projected to be around 2-3% this year and next, former central bank governor Péter Ákos Bod said on Wednesday. After several years of shrinking or moderate growth, Hungary will most likely be able to match the growth in Visegrad countries for the first time in 2014, he said.
He added the Hungarian state exerts “great control” over the consumer price index through taxes and centrally regulated prices.
Hungary will not be able to get off this “inflation roller-coaster” for some time because it is driven by the political terms, he added.
Hungary’s external balance turned into a surplus after the crisis, which is favourable but results mainly from the massive excess of exports to the European Union and support received from the EU, Bod said.
Source www.hungarymatters.hu
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