ADVERTISEMENT

Raiffeisen expects 2.2% GDP growth this year

History

Image by Shutterstock.com

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.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

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.