Hungary is currently ranked 58th in the World Economic League Table (WELT), a ranking of economies by GDP and is expected to remain so in 15 years' time, according to a recent forecast by the Centre for Economics and Business Research (CEBR).
At the end of each year, CEBR, one of London's most respected economic and business analysts, produces its forecast for the next decade and a half of the world's economies, based on nominal gross domestic product (GDP) in current US dollar terms.
According to London-based financial analysts, China may take over the top spot from the United States in the ranking of the world's largest economies much later than previously expected, only after the middle of the next decade. However, if China attacks Taiwan, repercussions would mean that this overtake would not occur in the foreseeable future.
As for the East Central European region, Poland ranks 22nd, Romania has moved up to 44th and the Czech Republic is holding steady at 45th.
According to the CEBR's long-term forecast, the Hungarian economy will rank 58th out of 190 countries in terms of gross domestic product in dollar terms this year, and this position will remain unchanged until the end of the decade and a half forecasting period: the firm expects Hungary to remain 58th in the WELT ranking in 2037.
The CEBR calculates that the average annual growth rate of the Hungarian economy will be 2.5% from 2022 until the end of the forecast period until 2037, which means that nominal Hungarian GDP in current dollar terms will rise from USD 168 billion in 2022 to USD 391 billion in 2037.
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