ADVERTISEMENT

Equilor analysts forecast 4.5% GDP growth for 2022

Analysis

Photo by Feng Yu / Shutterstock.com

Analysts of Equilor Investment expect Hungary's GDP growth to reach 4.5% in 2022, senior analyst Zoltán Varga said on Wednesday, according to a report by state news wire MTI.

GDP growth in 2023 could slow down to 3.8%, he added.

Economic growth will be driven by domestic consumption in the first half of this year, and later on, with the recovery of supply chains, external demand could also have a positive impact on the data, Varga said.

Equilor's analysts expect inflation to come close to 5% at the end of this year, with the central bank's base rate raised to 4.9% by then, and the cycle of tightening could end with another 30-basis-point increase next year, he said.

The government's GDP growth projection for this year is 5.9%.

Average annual inflation could decelerate to 4.8% in 2022 and 3.8% in 2023, Varga said.

He said the National Bank of Hungary (MNB) could continue raising the one-week deposit rate by 30 basis points after this week's 50-basis-point base rate hike, and the one-week deposit rate could converge with the base rate by mid-2022.

ADVERTISEMENT

Business chamber's biannual business confidence index falls Analysis

Business chamber's biannual business confidence index falls

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

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.