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Study predicts 2.5% growth in 2011

Hungary's economy will expand about 1% this year but growth will accelerate to about 2.5% in 2011 thanks to a pickup in exports and investments, according to a recently published new joint study by market researcher GKI and Erste Bank.

External demand may ease next year and the domestic market is likely to recover slower than expected, but construction industry could expand by about 4% and the retail market will also recover somewhat, the study said.

Transport and tourism will continue to be driven by foreign demand, while the domestic markets are expected to bottom out next year.

The survey estimates that Hungary's general government deficit will fall to around 3% in 2011. (BBJ)