Hungarian Government Expects 3% Growth in 2015
- New Europe Investor
- August 22, 2015
The Economic Ministry in Hungary has announced that it expects growth in 2015 to be 3%.
Growth in Hungary for the first six months of 2015 compared to the same period last year was 3.1%.
This growth projection for the year is higher than the 2.7% projected from the Central Statistics Office. This is due to their projections on agricultural output, which they say has fallen and will have an impact on the final figure.
There has been a huge drop in the level of construction in Hungary in 2015. This has led to a warning from Andras Balatoni, IMG’s bank chief analyst that the economy could experience a dramatic drop in activity at the beginning of 2016.
The order figures for the industry going into next year he says, suggest activity could be very low. This could subsequently have a knock on effect on the retail sector.