EBRD Raises Hungary Growth Forecast

  • 19 Sep 2014 9:00 AM
EBRD Raises Hungary Growth Forecast
The European Bank for Reconstruction and Development (EBRD) has raised its forecast for Hungary’s GDP growth this year to 2.8% from 1.6%, noting the effect on Hungary of the Russian sanctions has been “limited”. It expects output to grow by 2.2% in 2015.

The improved forecast is due to “good exports but also a number of temporary effects, including public infrastructure spending funded through EU grants and de facto transfers to households in the form of administrative price cuts and mortgage debt relief at the expense of banks.

” Hungary’s government expects the economy to grow by 3.1% this year.

Source www.hungarymatters.hu

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