• Home
• Channel: Finance
• OECD Lowers Forecast for Hungary's GDP to Zero

OECD Lowers Forecast for Hungary's GDP to Zero

• 8 Jun 2023 7:58 AM
• Hungary Matters

The OECD lowered its forecast of Hungary’s GDP in 2023 to 0.0% in its biannual Economic Outlook published.

The forecast was lowered from 1.5% in November. “High inflation is eroding household purchasing power and consumption, while tight financial conditions and economic uncertainty are holding back investment,” the OECD said.

The OECD has put average annual inflation at 19.2% for 2023. It projected investment volume would contract by 3.5%.

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

• OECD GDP

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

Consumer Price Index Inches Up in Hungary - Basic Food Prices Up Steeply Again

• 13 Nov 2024 11:36 AM

Hungary's annualised consumer price index reached 3.2pc in October, inching up from 3.0pc in the previous month, data released by the Central Statistics Office (KSH) on Tuesday show.



High Savings Rate of Hungarian Households Well Over Average for Region

• 13 Nov 2024 7:18 AM

Hungarian households' high savings rate and net financial assets, well over the average for the region, are a "growth reserve" for the national economy, if they can be channeled to corporate financing, Barnabas Virag, a deputy governor at the National Bank of Hungary (NBH), said at a conference organised by the Budapest Stock Exchange.



GDP Falls in Hungary - Reasons for Weak Economic Performance Explained

• 1 Nov 2024 8:15 AM

Hungary's GDP contracted 0.7pc year-on-year in the third quarter, adjusted for seasonal and calendar year effects, a first reading of data released by the Central Statistics Office (KSH) on Wednesday shows.



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.