Analysts put Hungary c/a surplus at €1.8 bln-2.5 bln for 2012

Food

Hungary's current-account surplus could reach €1.8 billion-2.5 billion this year, analysts told MTI on Friday, after the National Bank of Hungary published fresh c/a data for 2011.

As a sum of quarterly figures, Hungary's c/a surplus came to €1.43 billion in 2011, the MNB said early Friday.

Erste Bank's Zoltán Árokszállási said that although Hungary's goods trade surplus narrowed from quarter to quarter in 2011, falling from €1.3 billion in Q1 to €795 million in Q4, the trend could be reversed in 2012. He explained that austerity measures were likely to reduce household consumption and investments, weighing on imports, while exports could pick up.

He put the c/a surplus for 2012 at €2.5 billion, but said it could be as high as €3 billion.

Takarékbank's Gergely Suppán said a c/a surplus of €1.8 billion for 2012 was a "cautious estimate", adding that it could rise over €2 billion.

Suppán noted that €2.5 billion of the €5 billion gross FDI inflows and €2.7 billion of the €3 billion loan outflows in Q4 was "capital in transit" related to one specific group. Discounting this affect, FDI came to about €2.5 billion, he added.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.