Hungary growth picking up to 2.3% in 2008 - extended
Economic think-tank Pénzügykutató projects Hungary’s economic growth will pick up to 2.0-2.5% -- though most likely 2.3% -- in 2008, while inflation will slow to 6%, Pénzügykutató chief analyst Mária Zita Petschnig said at a press conference in Budapest on Friday.
Hungary’s economy expanded around 1% and consumer prices rose 8% in 2007. In its latest macroeconomic forecast, Pénzügykutató projects investments growth will reach 2.3-3% in 2008. Household consumption will inch up just 1% after falling in 2007. Pénzügykutató puts Hungary’s 2008 current-account deficit at €5.3 billion ($8.4 billion). It sees the general government deficit narrowing to 4% of GDP. It sees the central bank base rate dropping from 8.00% to 7.50% by year-end. Asked whether Hungary would benefit from possible tax cuts in 2009, Pénzügykutató analyst László Antal said tax cuts should only be made in a quickly expanding economy, or if there is a political consensus. (MTI-Econews)
ADVERTISEMENT
Technical Recession Ends, KSH Confirms
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Production Resumes at Ganz's Szolnok Plant
TikTok Commits to Improved Consumer Communication in Hungary
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.
