Govt confirms 1.5% growth forecast for 2012 - Reuters

History

Hungary’s government has not changed its economic growth forecast for 2012, the government spokesman’s office told Reuters on Thursday, denying an earlier newspaper report.

"The government did not change its prognosis," a spokeswoman for the office said in response to questions about the report.

Earlier, Hungarian business daily Napi Gazdaság reported, without identifying its source, that the government had lowered its projection to 0.9% GDP growth next year from 1.5% contained in the draft 2012 budget.

Analysts polled by Reuters last month forecast 0.9% economic growth in Hungary next year, a full percentage point below the median of previous estimates, and warned that this decline might jeopardize reaching next year’s budget deficit target.

The draft 2012 budget submitted to parliament in September stipulated a one-trillion-forint improvement in the budget balance next year to cut the deficit to 2.5% of GDP from an expected 2.94% of GDP in 2011.

ADVERTISEMENT

Business confidence improves as consumer sentiment worsens Analysis

Business confidence improves as consumer sentiment worsens

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

New financial director at Heineken Hungária Appointments

New financial director at Heineken Hungária

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.