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Govt confirms 1.5% growth forecast for 2012 - Reuters

Hungary’s government has not changed its economic growth forecast for 2012, the government spokesman’s office told Reuters on Thursday, denying an earlier newspaper report.

"The government did not change its prognosis," a spokeswoman for the office said in response to questions about the report.

Earlier, Hungarian business daily Napi Gazdaság reported, without identifying its source, that the government had lowered its projection to 0.9% GDP growth next year from 1.5% contained in the draft 2012 budget.

Analysts polled by Reuters last month forecast 0.9% economic growth in Hungary next year, a full percentage point below the median of previous estimates, and warned that this decline might jeopardize reaching next year’s budget deficit target.

The draft 2012 budget submitted to parliament in September stipulated a one-trillion-forint improvement in the budget balance next year to cut the deficit to 2.5% of GDP from an expected 2.94% of GDP in 2011.