Economic growth is expected to slow down to 2% in 2016 on account of a major decline in investments. Household consumption and net exports will contribute positively to growth. Economic growth is expected to accelerate in 2017 thanks to a turnaround in investment, with many more EU transfers being disbursed than in the current year. Parliamentary elections are scheduled for spring 2018. A substantial fiscal stimulus to growth is a likely scenario for the election year.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||9866||9843||9810||.||.||.|
|GDP, real change in %||4.0||3.1||2.0||2.6||2.9||.|
|GDP per capita (EUR at PPP)||18700||19700||20300||.||.||.|
|Gross industrial production, real change in %||7.7||7.4||1.0||.||.||.|
|Unemployment rate - LFS, in %, average||7.7||6.8||5.2||5.5||5.5||.|
|Average gross monthly wages, EUR||770||800||846||.||.||.|
|Consumer prices, % p.a.||0.0||0.1||0.4||2.0||2.5||.|
|Fiscal balance in % of GDP||-2.1||-1.6||-2.3||.||.||.|
|Public debt in % of GDP||75.7||74.7||73.9||.||.||.|
|Current account in % of GDP||2.1||3.4||4.3||4.1||4.0||.|
|FDI inflow, EUR mn||6868||5964||-8129||.||.||.|
|Gross external debt in % of GDP||114.4||106.6||99.5||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
HUNGARY: Investments implode – consumption and net exports come to the rescue
in: Labour Shortages Driving Economic Growth?
wiiw Forecast Report No. Autumn 2016, November 2016 , pp. 69-72 Details and Buy
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure