The projection, in a range of 2.0-2.5%, is well under the government target of 3%.
Pénzügykutató puts average annual inflation at 4.0% for 2011, also over the government target of 3.5%. Real wages are set to edge down 0.3%, according to Pénzügykutató.
Pénzügykutató expects household consumption to grow 1.5% and investments to increase 2.5%.
Employment is seen growing 1% as 30,000 jobs are added to the economy.
The government aims to create 300,000 new jobs by the end of 2014 and a million in ten years.
Pénzügykutató expects Hungary’s general government deficit, calculated with EU methodology, to fall to 2.9% of GDP in 2011, the same as the government target.
The National Bank of Hungary base rate is set to fall to 5.75% by the end of 2011 from 6.00% at present. Pénzügykutató puts the HUF/EUR exchange rate at 276 in December, slightly stronger than the 274 rate at present.
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