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Jan 10, 2019

World Bank adds 0.5 percentage points to their expected GDP growth of Hungary

In the Global Economic Prospects report, the international expert team of the World Bank see full-year GDP growth reaching 4.6 percent for 2018

The World Bank has added 0.5 percentage points to their expected GDP growth of Hungary.

In the Global Economic Prospects report, the international expert team of the World Bank see full-year GDP growth reaching 4.6 percent for 2018.

According to MTI, the subtitle of the organization’s study, “Darkening Skies”, indicate that analysts are predicting a number of factors that signal decelerating global growth.

The prognosis shows a global economic growth rate of 2.9 percent for 2019 and 2.8 percent for 2020. The study forecasts that last year’s rapid expansion is set to be followed by a gradual slow-down and major risks.

Experts are in agreement that Hungary’s growth rate is seen as likely to buck the trend of slower expansion.

The Ministry of Finance predicts that the World Bank may also upwardly revise the current cautious growth estimate for the coming years, given the fact that the organization raised its growth prognosis for the year 2018 by 0.8 percentage points over the past 12 months.

The ministry also points out that the government debt-to-GDP ratio has been declining steadily since 2011. The ratio’s decrease of some 10 percent over the past seven years is one of the best figures among the EU member states.