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May 28, 2018

GKI raises Hungary’s GDP growth projection for 2018 to 4 percent

Leading economic research institute GKI has raised Hungary’s GDP growth projection for 2018 to 4 percent from 3.8 percent

Leading economic research institute GKI has raised Hungary’s GDP growth projection for 2018 to 4 percent from 3.8 percent, it has been revealed.

In its report, GKI said that GDP, wages and consumption have grown faster than expected. MTI points out that the projection is good but still under the government’s official forecast of 4.3 percent growth.

GKI figures show that industrial output should climb 5 percent and it expects the construction industry to expand by 10 percent. Investments are set to climb 9 percent, while retail sales growth is 6 percent.

Researchers now expect the average gross wages to rise by 10 percent by the end of 2018 after climbing 12.9 percent in 2017.