Takarékbank puts 2016 GDP growth at 2.2%

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Analysts at Takarékbank project Hungary’s economy will grow 2.2% this year, a quarterly forecast by the lender shows, Hungarian news agency MTI reported yesterday (Wednesday).

The projection is under the government’s forecast for 2.5% GDP growth this year, but slightly higher than the 2.1% mentioned in the lender’s previous quarterly forecast. 

Economic growth could reach 3.3% in 2017, Takarékbank said.

Analyst Gergely Suppan said average GDP growth could exceed 3% by the end of the decade.

The government deficit compared to GDP could be 1.6% this year and 2.1% in 2017.

State debt as a percentage of GDP could fall from last yearʼs 75.3% to 74.1% this year and continue to edge down to 71.9% next year.

Consumer prices should rise by 0.5% in 2016, then by 2.1% in 2017. The National Bank of Hungary is seen as likely to raise its interest rate in 2018 at the earliest.

The unemployment rate could fall to 5.3% this year from 6.8% last year. In 2017 average unemployment could be below 5%. 

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