GKI forecasts 2.7% GDP growth in 2017

Analysis

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Economic research institute GKI expects Hungaryʼs GDP to grow by 2.7% next year, a forecast released today shows, as reported by Hungarian news agency MTI. This compares to the governmentʼs target of 3.1% growth in 2017.

GKI predicts GDP growth on the back of increased investments, supported by a pickup in payouts of European Union funding and strong consumption as drivers of growth.

GKI projects fixed capital formation will grow by 5% next year, after an estimated 10% decline in 2016. It forecasts a 4% increase in personal consumption, slowing slightly from 4.5% in 2016. 

GKI is standing by its forecast for GDP growth of 2.0% in 2016.

Hungaryʼs government targets GDP growth of 2.5% this year and 3.1% next year.

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