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Századvég raises GDP growth forecast to near 6%

Analysis

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Economic research institute Századvég said on Monday that it expects GDP growth to be close to 6% this year, instead of the 4% growth it forecast earlier in March.

Restrictions imposed to combat the coronavirus pandemic have caused a milder-than-expected decline in the economy, so its restart may be faster, Szazadveg said concerning the upwards revision.

Economic growth could be around 5% in 2022, similar to its earlier prediction of 5.1%, the institute said.

Hungary's Ministry of Finance calculates with a GDP growth rate of 4.3% this year.

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