Hungary receives rosy construction forecast


Hungary’s economic prospects have improved since the fall of 2018, according to Eastern European Construction Forecast Association (EECFA). There is less good news for the rest of the region, however; apart from Russia, the outlook for other countries has worsened.

Overall, the research conducted by the EECFA shows that GDP growth in Eastern Europe is more promising than in other parts of the continent, as Hungary and Serbia can expect a “more than 3.5%” GDP increase annually until 2020. However, Turkey is lagging behind with its growth remaining under 1.5%.

Looking at gross fixed capital formation (GFCF), the association once again points to Hungary and Serbia as areas of significant growth, together with Croatia, Slovenia and Bulgaria. Romania is in a less advantageous position, the data shows, as its GFCF rise has fallen to 0%. The only EECFA country where GFCF is likely to decrease is Turkey, the EECFA predicts.

Moreover, the EECFA ranked Hungary as the leader in GFCF prospects “with a nearly 10% annual growth rate”, followed by Slovenia and Serbia, both at an expected 8% rise. Hungary’s optimistic outlook is further strengthened by having the highest predicted growth of construction investment (15%) in the region, the report finds. 

Hungary Crude Supply Secured With 'Temporary Solutions' Energy Trade

Hungary Crude Supply Secured With 'Temporary Solutions'

Hungary to Host Next EPC Summit Int’l Relations

Hungary to Host Next EPC Summit

New Tenants at Academia Offices Office Market

New Tenants at Academia Offices

Sziget Announces FutureGrounds Zone, Starts Build-up In Budapest

Sziget Announces FutureGrounds Zone, Starts Build-up


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.