GDP growth in the first quarter of 2017 was stronger than expected. Investment has been the main driver of the expansion, supported by a moderate increase of consumption despite a strong rise in wages and also by a positive contribution from net exports. Annual GDP growth is expected to reach around 4% this year. After only marginal consumer price rises in 2014-2016, inflation is back: the annual rise in consumer prices may amount to 2.9% in 2017.

map Hungary
Main Economic Indicators201420152016201720182019
Population, 1000 persons986698439814...
GDP, real change in %
GDP per capita (EUR at PPP)188001990019800...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average7.
Average gross monthly wages, EUR770800845...
Consumer prices, % p.a.
Fiscal balance in % of GDP-2.1-1.5-1.8...
Public debt in % of GDP75.274.073.2...
Current account in % of GDP1.
FDI inflow, EUR mn71346667-7140...
Gross external debt in % of GDP114.7107.196.2...

Basic data are continuously updated.

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


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, July-August 2017
27 pages including 1 Table and 2 Figures



HUNGARY: Thriving household consumption pushes the economy onto a higher growth path

Sandor Richter
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 72-76
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