Slowdown of the Hungarian economy to continue

According to the forecast of GKI Economic Research Co., the slowdown of the Hungarian economy that started in the second quarter of 2015 will continue. The 3.6% growth rate in first-quarter was followed by only 2.7% in the second quarter and summer data suggest a further deceleration.

The forecast stresses that after 3.6% in 2014, the GDP growth rate will be 2.7% in 2015
and around 2% next year, mainly due to the stagnation of investments in 2015
and their decline in 2016. However, internal and external equilibria will be
favourable.

Similarly to Romania, Hungary’s GDP reached the pre-crisis
level in the second quarter of 2015. However, by this time the Polish GDP
exceeded the pre-crisis level by almost 25%, and the Slovakian one by more than
10%.

While in 2014 the Hungarian economy was temporarily one of
the fastest growing ones in the EU, in the second quarter of 2015 the Polish,
Czech, Slovak, Romanian and Latvian economies were all growing faster than the Hungarian
one.