Economic think-tank GKI expects Hungary’s economy to grow by a real 1.5% y/y in 2014 after expanding by 1.1% in 2013, GKI said in a fresh forecast, revising up its previous estimated of 1.3% y/y .
Private consumption is projected to increase by 1.5% y/y in 2014 helped by an expected hike of 3.5% y/y in real earnings. Investment activity is projected to increase by 4% y/y in 2014 slowing down from 7.2% y/y estimated for 2013. Exports and imports are forecast to grow by 4% y/y and 5% y/y in 2014, respectively.
On the production side, the industry will continue its recovery and post a growth of 3% y/y. The output in construction sector will increase by 5%. Retail trade is projected to increase by 1.5% y/y.
Hungary's consumer price growth is seen at 1.5% y/y in 2014, slightly easing from 1.7% y/y in 2013, GKI said confirming its previous estimate.
According to the think-tank, the average annual unemployment rate in the country will stand at 9.8% in 2014.
Despite its all-out attacks on the EU’s refugee quotas, Viktor Orban's government secretly gave permission for the admission of the same number of asylum seekers to the country in 2017 as ... more
President Janos Ader has set April 8 as the date of Hungary's general election, it was announced on January 11. This is the earliest possible Sunday that the ballot can be held under the law. The ... more
The Economy Ministry on January 10 asked the tax authority to delay collecting fines from opposition parties imposed by the state auditor ASZ to ensure that their pre-election budgets and campaign ... more