Századvég Puts 2023 GDP Growth at 0.6%
Photo by Feng Yu / Shutterstock.com
Economic think tank Századvég projects Hungary's economy will expand 0.6% this year in a fresh quarterly forecast, according to a report by state news wire MTI.
A fall in real wages and high inflation expectations could reduce consumption early in the year, while the uncertain economic outlook and high-interest rate environment restrain private investments, Századvég said.
Energy upgrades could mitigate the decline in investments, as could state financing for defense industry developments, it added.
Századvég sees domestic demand falling 1.4% in 2023.
Hungary's government puts this year's GDP growth at 1.5%.
MET Group Records 2nd Most Profitable Year in 2023
Gov't Considering Fuel Price Intervention
25,000 Apartments Being Built in Budapest
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
