EBRD: Hungary’s economy to shrink this year
The Hungarian economy is likely to shrink by 0.2% this year, the European Bank for Reconstruction and Development (EBRD) has forecast.
“Weak external demand, tight financing conditions and delayed disbursement of EU funds, will likely result in a … contraction of GDP in 2023, notwithstanding various government stimuli programmes,” the EBRD said in its latest Regional Economic Prospects.
In its May forecast, the EBRD predicted growth of 0.4%.
Hungary’s economy shrank by 1.7% year on year in the first half, according to the Central Statistics Office (KSH).
In 2024, growth of 2.8% is expected on the back of recovering domestic demand, the EBRD said.
Read also:
- EUR 1.80/litre for petrol to soon become reality in Hungary – is this Putin’s revenge?
- Hungary, Slovakia open new border crossing
Source: