Hungary’s GDP growth to come to 2.2%, inflation to 7.6% in 2007

Analysis

The country’s GDP is to increase in line with the targets defined in the convergence program, i.e. by 2.2%, according to a release by the Finance Ministry.

Next year, growth will increase by 2.8 %, faster than forecasted earlier, Minister János Veres said. Veres added that the Ministry’s new inflation prognosis shows similarity with the National Bank’s (MNB) own forecast, which is 7.6% for 2007 and 4.5% for 2008. The Finance Ministry will not modify its inflation prognosis of 2009 believing that the rate of inflation is to get back to the 3% band, which again corresponds with MNB’s forecast. (Gazdasági Rádió, Napi Gazdaság)

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