Ecostat’s 2006 GDP projection was lowered from 4% in June and is below OTP Bank Nyrt’s current projection of 4.1% announced on Tuesday.
Ecostat expects industrial production to continue growing at a faster rate, increasing 8% in 2006 compared to 7.3% in 2005. It projects household consumption will increase 2.1%, at the same rate as public consumption. Ecostat projects export growth of 15.7%, helped by a pickup in Europe’s economies, and import growth of 12.6%.
It puts the trade deficit at €2.6 billion, down from €2.8 billion in 2005. According to Ecostat’s current projection, inflation in 2006 will be 3.5% up from 3.3% projected in June. The central bank base rate is projected to rise from the current 6.75% to 7% by December this year, Ecostat said.
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