OECD Hikes Hungary GDP Growth Forecast to 6%

  • 23 Nov 2022 8:52 AM
  • Hungary Matters
OECD Hikes Hungary GDP Growth Forecast to 6%
The OECD raised its forecast for Hungary’s GDP growth this year to 6.0% in its biannual Economic Outlook published.

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.

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