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GDP, employment may not reach 2019 levels in 2021

Analysis

Photo by Feng Yu / Shutterstock.com

Neither GDP nor employment will reach the level of 2019 in 2021, only the growth will be high compared to this yearʼs weak performance, according to the analysis of Pénzügykutató Zrt., writes hvg.hu.

Image by Shutterstock.com

According to the optimistic version, which calculates that the second wave of the epidemic successfully being managed without the economy having to shut down, GDP could fall by 4% this year and then grow by 2% next year.

According to the pessimistic scenario, the recession will be 8% this year and will rise 3% from this lower base next year.

In the optimistic scenario, real earnings could grow by 6.2% this year and 2% next year.

In the pessimistic version, real wage growth is expected to be 5.4% for this year and only 0.5% by 2021.

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