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Takarékbank analysts forecast GDP growth of 3% this year, 3.6% next year

Takarékbank analysts expect Hungary's GDP to grow 3% in 2011 and 3.6% in 2012, Takarékbank section director Zoltán Ádám said on Wednesday

Takarékbank senior analyst András Oszlay said that the bank's analysts predict that Hungary will have average annual inflation of 4% in 2011 and 3.1% in 2012, noting that the National Bank of Hungary's 2012 year-end inflation target of 3% is achievable under the current monetary conditions. Oszlay commented that net export has underpinned recent economic growth, while external price shocks, notably the rise in the cost of raw materials and energy, have kept inflation high, adding that bank analysts expect the food inflation to fall in the second half of the year.

Takarékbank analysts predict that the MNB will keep the base rate at 6% this year.