- 23 Nov 2022 8:52 AM
- Hungary Matters
The forecast was raised from 4.0% in June. The OECD projects Hungary’s GDP growth will slow to 1.5% in 2023.
“The slowing reflects persistently high inflation, the economic fall-out of Russia’s war of aggression against Ukraine, weaker external demand and negative confidence effects,” the OECD said.
“Private consumption is likely to be dampened by increasing unemployment and a deceleration of real wages,” it added.