GKI raises GDP projection

MNB

TOO SMALL

Economic research institute GKI raised its projection for GDP growth this year to 3%, chairman András Vértes said today. 

The forecast was raised from 2.5% in June, the last time GKI published its projection.

In 2015, GKI projects economic growth slowing to 2%, in part due to the effect of a HUF 1 trillion burden on banks related to borrowers' relief legislation, Vértes said.

GKI projects the general government deficit will remain under the 3% of GDP threshold in both 2014 and 2015. The state debt as a percentage of GDP will not decrease significantly, according to their report.

GKI foresees average annual inflation at 0.3% in 2014 and 2.5% in 2015.

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