Pénzügykutató projects 2.4% GDP growth for 2015

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Pénzügykutató expects Hungaryʼs GDP growth rate to fall to 2.4% this year as investments slow, the economic research company said in a forecast released Wednesday, Hungarian news agency MTI reported.

The projection is well under the governmentʼs latest forecast for growth of 2.8%-2.9%. Hungaryʼs GDP rose 3.6% last year. Pénzügykutató said the general government deficit would remain under the 3%-of-GDP threshold, but achieving the 2.4% target could require cancelling budget reserves and new measures on the revenue side.

State debt is expected to drop to 76.2% of GDP by year-end from the 76.9% recorded at the end of last year. Average annual inflation is projected to reach -0.4% down from 2014’s -0.2%. The National Bank of Hungary could reduce the base rate as much as 1.60%, said Pénzügykutató researcher Éva Várhegyi.

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