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Even though Hungary has left recession behind, it has not yet embarked on a sustainable growth path. The strong external stimulus to growth lent by the EU helped to resuscitate private investment and employment. However, with the stimulus from the EU cohesion policy weakening as of the current year, it is expected that other factors will drive recovery; however, the conditions conducive to that happening are far from favourable. Medium-term growth is unlikely to reach more than 2% in 2016-2017.
|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||2.3||2.0||2.0|
|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||7.5||7.3||7.2|
|Average gross monthly wages, EUR||771||777||768||.||.||.|
|Consumer prices, % p.a.||5.7||1.7||0.0||1.5||2.5||3.0|
|Fiscal balance in % of GDP||-2.3||-2.4||-2.2||.||.||.|
|Public debt in % of GDP||78.5||77.3||77.3||.||.||.|
|Current account in % of GDP||1.8||4.0||4.1||3.8||3.4||3.0|
|FDI inflow, EUR mn||4409||4685||3801||.||.||.|
|Gross external debt in % of GDP||128.9||118.5||116.2||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
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
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures Details