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Takarékbank Raises Hungary’s 2019 GDP Forecast To 4.2%

• 18 Jan 2019 7:09 AM
• Hungary Matters

Takarékbank forecasts Hungary’s economy growing by 4.2% this year, fuelled by rising consumption linked to strong wage growth.

Takarékbank forecast 4.1% growth in its previous release in October. The government’s latest target is 3.9%. Takarékbank analyst Gergely Suppan said that improving productivity, efficiency and competitiveness may offset any challenge to growth due to the labour shortage.

Meanwhile, annual inflation is expected to average 3%, up from 2.8% last year, the bank forecast. Gross wages are expected to increase by 9% this year after growth of 11.3% in 2018. Takarékbank estimates GDP grew by 4.8% in 2018.

A favourable global environment this year may bring growth close to 5%, Suppan said.

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