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Nov 09, 2018

European Commission raises Hungary’s GDP growth forecast

The European Commission has raised its forecast for Hungary’s GDP to 4.3 percent in 2018 and 3.4 percent in 2019

The European Commission has raised its forecast for Hungary’s GDP to 4.3 percent in 2018 and 3.4 percent in 2019.

In their biannual forecast, the EC raised the projection for 2018 from 4.0 percent, and in 2019 from 3.2 percent, altering predictions made in the spring.

According to MTI, the official government forecasts for GDP growth are 4.3 percent for 2018 and 3.8 percent for 2019.

Hungary’s GDP growth in H1 2018 reached 4.7 percent, the latest data from the Central Statistical Office (KSH) show.

The EC forecasts Hungary’s GDP growth will slow to 2.6 percent in 2020. The EC said economic growth in 2018 is “broad-based”, while noting the support of pro-cyclical fiscal and monetary policy.