Fitch: Hungary's GDP to grow 7% in 2022

Ratings

The European Union's recovery fund is expected to significantly accelerate the recovery of EU economies in Central and Eastern Europe from the shock caused by the coronavirus epidemic, especially next year, according to a study presented by Fitch Ratings in London yesterday.

According to the forecast of the U.S.-based international credit rating agency, Hungary's GDP will grow by almost 7% in 2022, the fastest rate within the region.

Fitch analysts point out that each of the 11 EU member states in Central and Eastern Europe will be a net recipient of free benefits from the EUR 750 billion recovery fund announced as Next Generation EU, and that these economies will also receive new low-cost loans under the program.

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