Takarékbank puts 2013 GDP growth at 0.7%

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Analysts at Takarékbank, the bank for Hungary's savings cooperatives, expect Hungary's economy to grow by 0.7% this year as more and more sectors expand, chief analyst Gergely Suppan said on Thursday, presenting a quarterly projection. The projection is the same as the official government forecast. Next year, Takarékbank projects GDP growth will reach 1.7%. The bank puts average annual consumer price inflation at 2.0% in 2013 and 2.9% in 2014. It sees the general government deficit reaching 2.5% of GDP this year and 2.7% in 2014, still under the 3% European Union threshold. The state of Hungary recently acquired a 38% stake in Takarékbank.

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