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In the first quarter of 2015 Hungary’s GDP grew by 3.5%. While in 2014 growth had been driven by a strong upturn in investment, in the first quarter of this year investment declined. In 2015 the main growth drivers will be net exports and consumption but they cannot fully make up for decelerating investment growth. Overall growth in 2015 will be less dynamic than last year. This year’s slowdown will be continued in 2016 due to a sudden drop in transfers from the EU budget.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||9920||9893||9850||.||.||.|
|GDP, real change in %||-1.5||1.5||3.6||3.0||2.1||2.2|
|GDP per capita (EUR at PPP)||17300||17600||18600||.||.||.|
|Gross industrial production, real change in %||-1.8||1.1||7.5||.||.||.|
|Unemployment rate - LFS, in %, average||11.0||10.2||7.7||7.1||6.8||6.7|
|Average gross monthly wages, EUR||771||777||770||.||.||.|
|Consumer prices, % p.a.||5.7||1.7||0.0||0.1||2.0||3.0|
|Fiscal balance in % of GDP||-2.3||-2.5||-2.6||.||.||.|
|Public debt in % of GDP||78.5||77.3||76.9||.||.||.|
|Current account in % of GDP||1.8||4.0||4.0||4.4||4.3||4.0|
|FDI inflow, EUR mn||4409||4685||3936||.||.||.|
|Gross external debt in % of GDP||129.2||118.9||114.9||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 7-8/2015
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures
HUNGARY: The growth engine kicked in – what next?
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 63-65 Details and Buy