ADVERTISEMENT

Atradius Expects Economy to Shrink Next Year

Analysis

Photo by Feng Yu / Shutterstock.com

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%.

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan Debt

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan

EC Puts Hungary 2024 GDP Growth at 2.4% EU

EC Puts Hungary 2024 GDP Growth at 2.4%

HU-rizon Program: HUF 8 bln Funding for International Resear... Science

HU-rizon Program: HUF 8 bln Funding for International Resear...

Inspiring Women at the Focus of Gourmet Fest In Budapest

Inspiring Women at the Focus of Gourmet Fest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.