In the latest issue of its biannual Global Economic Prospects report released on Tuesday, the World Bank Group said that Hungaryʼs GDP could grow by 2.6% in real terms in 2017. In June 2016, the organization predicted a 2.4% growth rate for this year.
The World Bank expects growth to pick up in 2017 on a recovery of public investment, including infrastructure projects financed by EU funds.
GDP growth is projected by the World Bank to accelerate to 2.8% in 2018, then to slow back to 2.7% in 2019.
The 2018 projection has been revised up by 0.5 percentage points compared to the World Bankʼs June 2016 report.
The World Bank estimated that in 2016 Hungaryʼs GDP grew by 2.1%, 0.5 percentage point slower than previously expected, while noting that growth was 3.1% in 2015.
The Hungarian Ministry for National Economy said in December 2016 that it expected GDP growth to reach 2.1% in 2016, then rise to 4.1% in 2017, and to 4.3% in 2018, before falling to 3.8% in 2019.