• Home
• Channel: Finance
• Why Have Growth Forecasts Been Slashed by National Bank in Hungary for This Year, & 2025?

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

• 26 Sep 2024 6:14 AM
• Hungary Around the Clock

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.

The revision aligns with the consensus as analysts have also reduced their growth forecasts for Hungary in recent months.

The Finance Ministry predicts a 1.8-2.2% rise in GDP, while the Economy Ministry expects 2.2-2.3% growth, Portfolio writes.

The central bank also cut next year’s growth outlook from 3.5-4.5% to 2.7-3.7% but raised its forecast for 2026 by 0.5 percentage points to 3.5-4.5%.

The MNB now sees 2024 inflation decelerating to the 3.5-3.9% range, compared to the 3.5-4.5% target in the June report.

Inflation is expected to remain within the central bank’s 2-4% target range in 2025 and 2026.

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers? Then just contact us here!

Related links

Subdued Outlook: New Interest Rate Cut by National Bank in Hungary

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

• Forecast National Bank in Hungary

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

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.



Will We See 'Fantastic' Results from New Economic Policy in Hungary?

• 25 Oct 2024 11:38 AM

The government's new economic action plan could produce "fantastic results" in 2025, if Hungary follows through with its policy of economic neutrality, Prime Minister Viktor Orban said in a weekly interview with public radio on Friday.



Survey: National Bank on Hungarians' Financial Health

• 25 Oct 2024 6:51 AM

The National Bank of Hungary revealed the results of its inaugural survey on Hungarians' financial health.



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.