Raiffeisen expects 2.2% GDP growth this year
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Hungary’s GDP growth is expected to reach 2.2% this year, and could accelerate to 2.7% next year, Zoltán Török, chief analyst at Raiffeisen Hungary, said at a press conference yesterday, according to reports.
The projections of Raiffeisen are more pessimistic than those of the Hungarian government, which estimates GDP growth at 2.5% for this year and 3.1% for 2017, Hungarian news agency MTI reported.
Although growth is expected to pick up this year after a slow first quarter, Török said, Hungary is still overly dependent on just a few sectors as well as on European funding, which the analyst defined as a problem. He added that the shortage of qualified labor in the country is also becoming increasingly problematic.
According to Török, Raiffeisen analysts expect GDP growth of 2.9% in 2018. They see average annual inflation reaching 0.4% this year, 2% next year and 2.7% in 2018, MTI reported.
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