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Kopint-Tárki expects stronger 2nd half year

In its July forecast for the second quarter, the Kopint-Tárki Institute for Economic Research has somewhat lowered its expectations for the decline of Hungarian economy to 5%, down from the 5.5% prediction it made in April, says portfolio.hu.

This is largely due to the fact that, so far, the course of the epidemic was faster and milder than expected, which expedited the economic restart somewhat.

GDP is expected to shrink by double digits in the second quarter, as indicated by the April-May industrial production data, which show a huge drop.

According to Kopint-Tárki, if the virus does not make a strong return, the second half of the year may bring better economic indicators, and the last quarter may result in a situation close to stagnation, the business website notes.