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Takarékbank: GDP growth forecast up to 4.9%

Takarékbank analysts have raised their forecast for this year’s GDP growth from 4.7% to 4.9%, business portal portfolio.hu reported.

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The bank raised its forecast in light of strong first-half growth, favorable data on select sectors from July, wage growth, government measures to support families and economic growth, and inflows of foreign direct investment (FDI).

The government’s official projection for GDP growth this year is 4%, but Minister of Finance Mihály Varga said earlier that higher-than-expected first-half growth of 5.1% could lift full-year growth to 4.3-4.4%.

Takarékbank sees household consumption climbing 4.4% this year. It puts average annual inflation at 3.4%.

For next year, Takarékbank predicts GDP growth of 3.7%.