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Kopint-Tárki expects Hungary’s GDP to contract 4-5% in 2009

  Economic think tank Kopint-Tárki expects Hungary’s GDP to contract by 4-5% in 2009, compared to its earlier forecast GDP contraction of 1.3% in December and 3.3% in February, Kopint-Tárki CEO Éva Palócz said on Friday.

At the same time the research institute raised its annual average inflation forecast to 3.7% from 3.2%.

Kopint-Tárki expects household consumption to drop 5% and investments to contract 5-6% in 2009.

The think-tank projects a 3% drop in euro zone exports this year, including a 3.0-3.5% decline in exports to Germany.

Kopint-Tárki projects an average euro-forint rate of 300 and an average oil price of $50 per barrel in 2009. (MTI-Econews)