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GDP growth

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Hungary’s Economy Expected to Stage Robust Performance

D&T
Nov 5, 2021

The Hungarian economy is likely to recover from the shock of the coronavirus epidemic at a much faster pace than previously expected, according to a biannual report by the European Bank for Reconstruction and Development (EBRD). The organization raised its forecast for Hungary’s GDP growth this year to nearly 8%, which is in line with […]

Hungary Raises Interest Rates for First Time in 10 Years

D&T
Jun 25, 2021

The National Bank of Hungary hiked interest rates this week, becoming the first monetary authority in the European Union to start monetary tightening as it seeks to tame inflation in the aftermath of the COVID pandemic. The bank indicated it would continue to raise borrowing costs due to inflation risks. The Monetary Council of the […]

Double Dip Avoided

D&T
Feb 19, 2021

Defying all expectations, the Hungarian economy expanded in the fourth quarter of 2020. This gives a significant boost to the 2021 outlook. Expectations had not been particularly high for fourth-quarter economic activity in 2020. Nevertheless, Prime Minister Viktor Orbán suggested the economy probably contracted by 5.1% to 5.2% in 2020 as a whole, meaning borderline […]

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