Raiffeisen augurs 5% GDP growth for 2021

Banking

Hungary's GDP growth is expected to reach 5% this year, Raiffeisen Bank analyst Zoltán Török said on Wednesday, according to a report by state news wire MTI.

Török said the economy may have contracted in the first quarter, but second-quarter GDP growth could be in the double digits.

He said that Hungary's use of vaccines from China and Russia, in addition to ones it is getting in a joint European Union order, could allow a full re-opening of the economy in Q2, although noting downside risks related to coronavirus mutations.

Hungary's government projects GDP growth of 4.3% this year.

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