Hungary

map Hungary
Hungary achieved modest GDP growth last year, driven by household consumption; meanwhile there was a steep decline in investment. The data for early 2025 are not encouraging; however the start-up of new production capacities in the automotive industry and ‘campaign handouts’ ahead of the general election in April 2026 may boost growth in the second half of the year. It will remain a considerable challenge over the forecast horizon to foster growth, while at the same time trying to keep inflation and the fiscal deficit under control.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons960595929562...
GDP, real change in %4.3-0.80.51.82.52.0
GDP per capita (EUR at PPP)275902944030500...
Gross industrial production, real change in %6.1-5.5-4.0...
Unemployment rate - LFS, in %, average3.64.14.54.24.04.5
Average gross monthly wages, EUR127814961636...
Consumer prices, % p.a.15.317.03.75.04.03.5
Fiscal balance in % of GDP-6.2-6.8-4.9-5.0-5.0-3.8
Public debt in % of GDP73.973.073.5...
Current account in % of GDP-8.50.32.21.71.71.8
FDI inflow, EUR m1409843784171...
Gross external debt in % of GDP91.985.884.8...


Basic data are continuously updated.

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

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Monthly Report No. 1/2025

Vasily Astrov, Alexandra Bykova, Selena Duraković, Meryem Gökten, Richard Grieveson, Maciej J. Grodzicki, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Dzmitry Kruk, Sebastian Leitner, Isilda Mara, Emilia Penkova-Pearson, Olga Pindyuk, Sandor Richter, Marko Sošić, Bernd Christoph Ströhm and Maryna Tverdostup
wiiw Monthly Report No. 1, January 2025
50 pages including 6 Tables and 13 Figures

Details

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Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
Details


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