Századvég raises GDP forecast to 7.8%

Analysis

Economic research institute Századvég said on Wednesday that it projects GDP growth of 7.8% this year, instead of the 6% growth it forecast earlier in June, according to a report by state news wire MTI.

Századvég raised its GDP forecast for 2022 to 5.5% from its earlier projection of 5%.

In its quarterly macroeconomic forecast, the institute noted that the performance of the Hungarian economy exceeded pre-crisis levels in the second quarter, with GDP growth of 17.9% year-on-year and 2.7% quarter-on-quarter. Thus, the economy as a whole has recovered from the crisis, even though this is not true of all sectors, it added.

ADVERTISEMENT

501 new COVID cases registered in Hungary Figures

501 new COVID cases registered in Hungary

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.