Raiffeisen Bank chief analyst: Hungary GDP expected to grow 2.7 pc in 2017

Budapest, July 19 (MTI) – Hungary’s economy is likely to grow by 2.2 percent this year and by 2.7 percent in 2017, Raiffeisen Bank chief analyst Zoltán Török said on Tuesday.

Growth will pick up after a slow first quarter, but the overdependence of Hungary’s economy on a few sectors and European Union funding remains a problem, Török said. A shortage of skilled labour is also becoming a more burning issue, he added.

Hungary’s government targets GDP growth of 2.5 percent this year and 3.1 percent in 2017.

For 2018, Raiffeisen’s analysts forecast growth of 2.9 percent, Török said, adding that inflation is likely to average 0.4 percent this year, 2 percent in 2017 and 2.7 percent the year after.

Source: MTI