Ecostat projects 3.9% GDP growth in 2006, 2.5%-2.8% in 2007
Hungary's economy will grow 3.9% in 2006, supported by a pick-up in other European economies and despite government austerity measures, but growth will slow to 2.5%-2.8% in 2007, according to the latest projection by Ecostat, the research arm of the Central Statistics Office (KSH).
Ecostat said second-half figures for Hungary's economy were slightly more negative than first-half figures. Although household consumption fell from 2.6% in H1 to 1.7% in H2, it will still average 2% for 2006, well over the previous year's 1.4%. In 2006, however, household consumption is expected to grow no more than 0.5%.
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