CIB sees 2.8% GDP growth in 2015

MNB

Hungary’s GDP is expected to grow by 2.8% this year and continue growing by 2% next year, CIB Bank said yesterday in its quarterly forecast, Hungarian news agency MTI reported.

This year’s inflation is forecast to come around 0% and rise by approximately 1.4-1.8% next year, the report says. CIB said it expects the Hungarian government’s deficit to GDP ratio to come above the governmentʼs target of 2.4%, reaching 2.6%.

The National Bank of Hungary could leave its 1.35% base rate unchanged in 2016, but continue with other, non-traditional methods of monetary easing, said CIB, according to MTI.

CIB expects economic growth to slow based on one-off effects, lower levels of European Union funding and weaker private investment, MTI reported, adding that rising consumption and the surplus of foreign trade will not be able to wholly offset lower investment figures.

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