Hungary

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.

map Hungary
        FORECAST*
Main Economic Indicators201520162017201820192020
Population, 1000 persons984398149784...
GDP, real change in %3.42.24.03.82.61.7
GDP per capita (EUR at PPP)197001970020600...
Gross industrial production, real change in %7.41.04.8...
Unemployment rate - LFS, in %, average6.85.14.24.14.14.1
Average gross monthly wages, EUR800845961...
Consumer prices, % p.a.0.10.42.42.82.92.9
Fiscal balance in % of GDP-1.9-1.7-2.0...
Public debt in % of GDP76.776.073.6...
Current account in % of GDP3.56.02.93.22.62.7
FDI inflow, EUR mn7000-62555726...
Gross external debt in % of GDP107.897.283.8...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

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HUNGARY: EU co-financed investment boom, surging wages, shrinking trade surplus

Sandor Richter
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 98-101
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Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, August 2017
27 pages including 1 Table and 2 Figures

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