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Recession could end in Q1

Hungary's recession could end in the first quarter of 2010, although the economy will probably stagnate during the year, economic think tank GKI said in its latest projection prepared with the cooperation of Erste Bank.

GKI projects industrial output will grow 3.5% and investments will rise 3% - helped largely by European Union-supported infrastructure developments - in 2010. IT sees exports rising about 4% and imports climbing 6%, causing the foreign trade surplus to narrow to €3.7 billion.

Retail sales are expected to fall 1%.

Gross wages are set to inch up 1% while consumer prices climb 4.3%.

The unemployment rate is seen averaging 10.5%.

The current account surplus is expected to remain flat at €2.8 billion. (MTI-ECONEWS)