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Jan 11, 2017

World Bank predicts Hungary's GDP will grow by 2.6 percent this year

The World Bank Group has said the Hungarian economic output is expected to grow by 2.6 percent this year, upping its forecast of 2.4 percent made in June 2016

The World Bank has boosted its forecast for Hungary's GDP growth in 2017, it has been revealed today.

According to MTI,  Hungarian economic output is expected to grow by 2.6 percent this year, the World Bank Group has said, upping its forecast of 2.4 percent made in June 2016.

In its Global Economic Prospects report, the World Bank said a recovery in public investments, including the infrastructure projects financed by EU funds, would aid growth, which could accelerate to 2.8 percent in 2018 before easing to 2.7 percent the following year. The 2018 projection was revised up by 0.5 percentage points.

Hungary’s output is likely to have grown by 2.1 percent in 2016, the bank said. This is half a percentage point slower than earlier forecast.

The Ministry for National Economy said in December that it expected GDP to grow by 2.1 percent in 2016 before jumping to 4.1 percent this year and to 4.3 percent in 2018.