Are you sure?

GDP growth expected to be 1% in 2010

GDP growth is projected to reach 1% in 2010, while the export-driven nature of growth is not likely to change, the latest forecast of economic research company GKI and Erste Bank says. Industrial output expanded by 7.3% in the first five months of the year. Also, foreign trade surplus totaled €844 million higher than in the same period of 2009. The terms of trade improved by 0.3%. These favorable trends are expected to continue during the rest of the year. The average exchange rate of the forint to the euro was HUF 270 in the first half of 2010 and it is likely to range above HUF 280 in the August-December period resulting in an annual average of HUF 277. (BBJ)