Recession Seems Inevitable, Experts Warn

Analysis

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A recession of the Hungarian economy seems inevitable, while there is a danger that inflation will become embedded at a high level, according to an expert discussion at the Budapest Economic Forum hosted by portfolio.hu.

The exchange rate of the forint must be stabilized if Hungary wants to avoid the unpleasant example of Latin America, indicated investor Viktor Zsiday.

Economist Péter Ákos Bod, a former National Bank of Hungary governor, said it is challenging to maintain confidence in economic policy because it is tough to rebuild it. Both experts agreed that it is not the short-term outlook that is unfavorable but what comes after next year's recession.

They also agreed that there is a danger that inflation will remain permanently high in Hungary.

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