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GKI raises 2015 GDP forecast to 2.5%

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Economic research institute GKI raised its projection for Hungary’s GDP growth this year from 2% to 2.5% based on strong first-quarter growth and an improved outlook, Hungarian news agency MTI reported yesterday.

According to the research institute, the country’s economy grew by a year-on-year 3.4%, faster than expected. Though GKI sees exports and consumption contributing more to growth this year, the institute expects investments to stagnate.

The Hungarian government earlier raised its projection for GDP growth this year from 2.5% to 3.1%, state secretary Péter Benő Banai said on public television last week, Hungarian news agency MTI reported.

The European Commission said earlier that Hungaryʼs real GDP grew by 3.6% in 2014, but that growth is expected to slow to 2.8% this year and to 2.2% in 2016, influenced by the shift in such growth-supporting factors as record EU fund absorption. 

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