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London analysts expecting a strong recovery for Hungary

According to London macroeconomic analysts, Hungary will be among the emerging economies in Europe where the value of gross domestic product will reach the pre-COVID levels by the end of next year, writes conservative economics daily Világgazdaság. 

Emerging markets economists at the London analytics division of Morgan Stanley’s global financial services group said in a new forecast unveiled on June 16 that the Czech Republic is expected to experience the deepest recession among Central European EU states this year.

They expect to see a 7.8% decline in the Czech economy in 2020 as a whole. According to the company’s forecast, GDP will fall by 6.7% in Hungary and 5% in Poland this year. At the same time, Morgan Stanley expects Hungary’s gross domestic product to bounce back and grow by 4.6% next year, adds.