Hungary
First-quarter GDP growth (4.4%) indicates a continuation of the economy’s strong expansion in 2018. It is driven by a 5% increase in consumption and a remarkable 17.1% growth of investment. The composition of the investments was unfavourable, with 65% expansion in budgetary units but a drop of 1.1% in investments by enterprises. This year will still be a year of formidable (4%) economic growth due to EU transfers, but a slowdown during the next two years will be hardly avoidable.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Population, 1000 persons | 9843 | 9814 | 9784 | . | . | . |
| GDP, real change in % | 3.4 | 2.2 | 4.0 | 4.0 | 2.8 | 2.4 |
| GDP per capita (EUR at PPP) | 19700 | 19700 | 20400 | . | . | . |
| Gross industrial production, real change in % | 7.4 | 0.9 | 4.7 | . | . | . |
| Unemployment rate - LFS, in %, average | 6.8 | 5.1 | 4.2 | 3.7 | 3.6 | 3.6 |
| Average gross monthly wages, EUR | 800 | 845 | 961 | . | . | . |
| Consumer prices, % p.a. | 0.1 | 0.4 | 2.4 | 2.8 | 2.9 | 2.9 |
| Fiscal balance in % of GDP | -1.9 | -1.7 | -2.0 | . | . | . |
| Public debt in % of GDP | 76.7 | 76.0 | 73.6 | . | . | . |
| Current account in % of GDP | 3.5 | 6.0 | 3.1 | 2.7 | 2.6 | 2.7 |
| FDI inflow, EUR mn | 7000 | -6255 | 6040 | . | . | . |
| Gross external debt in % of GDP | 107.8 | 97.2 | 84.6 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 6/2018
Vasily Astrov, Rumen Dobrinsky, 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. 6, June 2018
27 pages including 1 Table and 1 Figure
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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