Over the next three years, economic growth is forecast to remain above 3%. In 2016, the expansion of household consumption was the main driver of growth, and that will remain the case, at least until the election year 2018. A deterioration will begin in the external balances; there is expected to be a recovery in investment, largely financed by EU funds.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||9866||9843||9810||.||.||.|
|GDP, real change in %||4.0||3.1||2.0||3.3||3.4||3.1|
|GDP per capita (EUR at PPP)||18700||19700||20000||.||.||.|
|Gross industrial production, real change in %||7.7||7.4||1.0||.||.||.|
|Unemployment rate - LFS, in %, average||7.7||6.8||5.1||4.8||4.5||4.5|
|Average gross monthly wages, EUR||770||800||845||.||.||.|
|Consumer prices, % p.a.||0.0||0.1||0.4||2.0||2.5||2.8|
|Fiscal balance in % of GDP||-2.1||-1.6||-2.3||.||.||.|
|Public debt in % of GDP||75.7||74.7||73.9||.||.||.|
|Current account in % of GDP||2.1||3.4||4.4||4.2||3.4||2.5|
|FDI inflow, EUR mn||6868||5964||-8129||.||.||.|
|Gross external debt in % of GDP||114.4||106.6||100.9||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
HUNGARY: Thriving household consumption pushes the economy onto a higher growth path
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 72-76 Details and Buy
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure