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Gov't continues to project 4-6% GDP growth for 2013-14, ministry confirms

The government continues to project GDP growth between 4-6% for 2013-14, the press office of the National Economy Ministry (NGM) told MTI late on Wednesday.

MTI contacted NGM after ministry state secretary Andras Karman told Reuters in an interview that the reform programme is based on a projection of 3-3.5% growth for 2013.

In its response, the ministry emphasised that the foundations and conditions for a robust 4-6% economic growth will be created by government measures taken so far and those planned as part of the Széll Kálmán Plan.

The statement notes that the budget deficit curve outlined in the Széll Kálmán Plan is based on a lower economic growth path than this.

The statement says that the outlined macroeconomic curve consciously calculates with a lower economic growth rate than that which seems most likely at the moment in order to produce a conservative estimate for predicting the extent of the measures necessary for achieving the budget deficit target.

Based on information available at the moment, the government considers the higher growth estimate as more likely, but calculated with the more conservative growth curve for the sake of safety, NGM said in the statement.