GKI raises 2014 GDP growth forecast to 3.2%

Analysis

TOO SMALL

Economic research institute GKI today published that it raised its GDP projection for Hungary to 3.2% by the end of this year, from September’s 3%.

According to the research institute, growth rate is expected to slow to 2% next year as export growth is expected to slow from 7% to 5.5% and import growth from 8.5% to 5.5%.

On November 26, Moody's said that it was expecting an improved, but still sluggish, mid-term outlook for Hungary. OECD on November 25 expected Hungary's GDP to reach 3.3% in 2014, while slowing to 2.1% next year and to 1.7% in 2016 as a result of "tight credit conditions".

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