Századvég knocks down GDP forecasts
Economic research company Századvég lowered its projection for Hungary's GDP in 2012 to a 1.0% contraction in a fresh forecast on Monday from 0.1% growth in the previous one in March.
Századvég said GDP would decline because of stagnating consumption, a significant decline in investments, and efforts to maintain the fiscal deficit target.
Századvég projected GDP growth of 0.9% in 2013, down from a 1.5% forecast in March.
The company said the government would have to reduce expenditures by a further HUF 350 billion to reach its 2013 deficit target.
Századvég puts average annual inflation at 5.7% for 2012 and 4.3% for 2013.
ADVERTISEMENT
New Tenant in Wing’s Hungária Office Park Development
BKK Steps up Airport Shuttle Bus Service
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.
