• Home
• Channel: Finance
• EC Raises Hungary 2019 GDP Growth Forecast To 4.6%

EC Raises Hungary 2019 GDP Growth Forecast To 4.6%

• 8 Nov 2019 10:05 AM
• Hungary Matters

The European Commission raised its projection for Hungary’s GDP growth this year to 4.6% from 4.4% in a quarterly forecast.

The government’s official projection for GDP growth this year is 4%, but Finance Minister Mihály Varga said earlier that higher-than-expected first-half growth of 5.1% could lift full-year growth to 4.3-4.4%. The EC left its forecast for next year’s GDP growth unchanged at 2.8%. It put GDP growth in 2021 at 2.8%.

The EC acknowledged in the autumn European Economic Forecast that Hungary had managed to withstand the global slowdown thanks to a domestic construction boom and a revival of the automotive industry, but it said support from these factors is “set to fade toward the end of 2019”.

The EC sees investment growth plunging from 17% in 2019 to 2.1% in 2020 and 2.6% in 2021. Public investment is set to fall after Hungary’s absorption of European Union funds peaked in 2019, but private investment its seen rising further as real estate projects already in the pipeline are completed and several big manufacturing sector investments are completed, it said.

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

• GDP Forecast

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Inflation in Hungary Predicted to Rise Over Coming Months, A National Bank Director Reveals

• 20 Dec 2024 6:38 AM

Inflation in Hungary will temporarily rise in the coming months, but will remain within the tolerance band throughout most of 2025, Andras Balatoni, a director of the National Bank of Hungary (NBH) said.



Fitch Revises Outlook in Hungary from Negative to Stable

• 9 Dec 2024 2:48 PM

Fitch Ratings affirmed Hungary's investment-grade sovereign rating and revised the outlook to stable from negative on Friday, the National Economy Ministry said in a statement.



Updated: NBH Sees Inflation Slowing Further in September in Hungary

• 27 Sep 2024 6:00 AM

August's 3.4pc CPI was in line with the National Bank of Hungary's expectations, and the central bank sees inflation falling to 3.1pc in September, Andras Balatoni, an NBH director said.



Why Have Growth Forecasts Been Slashed by National Bank in Hungary for This Year, & 2025?

• 26 Sep 2024 6:14 AM

The MNB expects Hungary’s economy to grow by just 1-1.8% this year, a sharp revision from the 2-3% forecast made three months ago, according to preliminary data from the quarterly inflation report to be released.