wiiw Forecast Reports
HUNGARY: EU co-financed investment boom, surging wages, shrinking trade surplus
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Economic growth in 2017 amounted to 4%, with household consumption growing quicker than GDP, reflecting the dynamic expansion of real wages. Investments increased by about 20% as a direct consequence of the accelerated allocation of EU cohesion policy-related resources to recipients. The other side of the coin was the strong deterioration in the foreign trade balance. Economic growth remains dynamic this year, though a deceleration is expected from 2019 on, closely related to the depletion of EU resources due to a deliberate excessive utilisation of the respective resources in 2017-2019.
Countries covered: Hungary