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Kopint-Tárki lowers GDP growth projection to 2.2% for this year

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Research institute Kopint-Tárki lowered its GDP growth projections for Hungary for this year and next to 2.2% and 2.7% respectively, citing slower-than-expected recovery and downside risks posed by the U.K.ʼs decision to leave the EU, Hungarian news agency MTI reported today.

Kopint-Tárki CEO Éva Palócz noted that Hungaryʼs first-quarter GDP growth had decelerated to 0.9%, putting it behind its peers in the region and also among the slowest growers in the EU.

Kopint-Tárki had previously projected GDP growth of 2.4% for 2016 and 2.9% for 2017.

Hungaryʼs government has said it is expecting GDP growth of 2.5% this year and 3.1% next year.

Kopint-Tárki made its forecast with support from national business association VOSZ.

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