Atradius Expects Economy to Shrink Next Year

Analysis

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In its fall analysis, credit insurance company Atradius says it expects the domestic economy to shrink in 2023, according to profitline.hu.

According to the study, Hungarian GDP will still be positive this year, but analysts expect a recession next year.

As a result of the real economic effects of the crisis, Central European companies are forced to cut costs, and mass layoffs in some sectors can be feared in Germany and Central and Eastern Europe.

According to the analysis, the growth of the world economy next year will be 2.3%, and that of the Eurozone will be just 0.8%.

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