• Home
• Channel: Current Affairs
• Local Opinion: Hungarian Economy In Good Shape

Local Opinion: Hungarian Economy In Good Shape

• 3 Oct 2018 7:44 AM
• BudaPost

The leading independent online financial site expresses confidence that the Hungarian economy is doing well, and sees no reason to fear that a global economic slowdown would impact it as severely as the 2008 economic crisis.

The Hungarian economy is marked by robust and well-balanced growth, József Hornyák writes on Portfolio.

The financial analyst recalls that the growth rate is around 4 per cent, and all major sectors are booming. Hornyák adds that fast economic growth is partly driven by increasing internal demand.

At the same time, the public deficit is below 2 per cent of the GDP and the sovereign debt ratio is slowly decreasing. Hornyák underscores that the ratio of FX-debt has sunk to 20 per cent from its 50 per cent peak in 2011, which makes the Hungarian economy more resilient to external shocks.

As for potential risks, Hornyák mentions the low interest rates and loose monetary policy which may make the Forint vulnerable.

Although credit rating companies are reluctant to upgrade Hungary, both macro and microeconomic data suggest that a new global slowdown would have much less impact on the Hungarian economy now than in 2008, Hornyák writes.

This opinion does not necessarily represent the views of XpatLoop.com or the publisher. Your opinions are welcome too - for editorial review before possible publication online Click here to Share Your Story 

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Local Opinion Hungarian Economy

XpatLoop Media Partner

BudaPost

Launched in May 2011 to provide a balanced picture of matters covered in Hungary’s national press. Their aim is to make it easier for English-speakers to understand where this country is now and where it’s heading according to the full spectrum of media opinions.

Explore More Reports

"We Are at Arm's Length from Peace," Announces Orbán About "War in the Neighbourhood"

• 23 Dec 2024 10:56 AM

"We will recover from the war, we are at arm's length from peace," Prime Minister Viktor Orban said in a year-end interview broadcast on public media.



Hungary to Veto EU Sanctions Against Georgia Officials If Necessary, FM Szijjarto Says + More

• 11 Dec 2024 5:34 AM

Hungary’s government believes the European Union’s proposal to impose sanctions on Georgia’s interior minister and two police officials is “nonsensical and uncalled for”, and will veto the motion if necessary, Peter Szijjarto, the foreign minister, said on Tuesday.



Opposition Parties Criticise Orbán Choice for New Governor of National Bank of Hungary

• 2 Dec 2024 6:26 AM

The opposition Democratic Coalition (DK) and Socialist parties have criticised the prime minister's decision to nominate Mihaly Varga, the incumbent finance minister, to serve as the next central bank governor, saying he would "further weaken" the forint.



Former US Ambassador Says "Trump Would Most Certainly Pay a Visit to Hungary"

• 22 Nov 2024 9:57 AM

US president-elect Donald Trump knows Vladimir Putin and Volodymyr Zelensky well and if he reaches out to them, the Russian and the Ukrainian presidents will both show respect towards the United States, the former US ambassador to Hungary said in an interview with public television broadcast on Wednesday evening.