Hungary GDP Forecast Raised
World Economy

Hungary GDP Forecast Raised

The Organization for Economic Cooperation and Development raised its projection for Hungary’s GDP growth next year to 2.4% from 2.2% in the previous outlook released in June, NewsNow reported. The OECD stood by its 3% projection for growth this year and it forecast–for the first time–GDP growth of 3.1% for 2017. “Economic growth was strong in 2015 but is projected to slow in 2016 as public investment declines and the fiscal stance becomes less accommodative,” the OECD said. “Activity should rebound in 2017 on the back of renewed public investment. Private demand should remain fairly robust over the coming two years.” It said domestic risks for growth were mainly on the upside, while downside risks were mostly external. With a concentration of automotive companies in its industrial sector, and a faster-than-expected normalization of monetary policy in the United States, could force the National Bank of Hungary to tighten its own policy rate earlier than expected. The OECD projects Hungary’s budget deficit will narrow from 2.3% of GDP in 2015 to 1.9% next year and 1.5% in 2017.


Short URL : http://goo.gl/ZKSY7t
  1. http://goo.gl/LKDvzI
  • http://goo.gl/gRZkxO
  • http://goo.gl/pDGGMt
  • http://goo.gl/EL7orv
  • http://goo.gl/zVLioG

You can also read ...

Big Data, Online Markets Can Lead to Higher Prices
Information technology is not just transforming markets; it is...
Italy could set the stage for the bloc’s next crisis if it delivers on its tax-cutting and high-spending policies.
Capital investment in 24 of the EU’s 28 member states has...
Air India Sale Hangs in Balance
Uncertainty hangs over the Indian government's plans to sell...
Liu He (L) and Steven Mnuchin after the joint statement to avoid a trade war.
With "minutes to midnight", the great US-China trade war...
Bangla Trade Deficit Doubles
Bangladesh’s trade deficit has almost doubled within 12 months...
A meeting of eurozone finance ministers is set for June 21.
Greece’s creditors have agreed a program of reforms as the...
Cumulative gross financing needs could amount  to $69.3 billion for 2018 for the six-nation group.
While public debt levels remain at manageable levels for most...
Egypt Gets Bids for Power Plant
Egypt next week will announce the winning consortium to build...