Banking association projects 1.5% growth in 2011-2012
The Hungarian Banking Association expects Hungary's economy to grow 1.5% in both 2011 and 2012, a projection distributed at a conference on Friday shows.
Instead of exports, increased investments and a restocking of inventories will be the engine of growth, according to the association. Household consumption could edge up.
The association expects propensity to make investments to remain low, and says the effects of conservative lending policy will be felt for a long time.
The association sees the unemployment rate remaining over 10% in 2012.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.