OECD Lowers Forecast for Hungary's GDP to Zero

  • 8 Jun 2023 7:58 AM
  • Hungary Matters
OECD Lowers Forecast for Hungary's GDP to Zero
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%.

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