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Hungary's Economic Expansion Trails Expectations Amid Slow Recovery

May 3, 2024

In the latest quarterly review, Hungary's economic performance fell short of analysts' projections, underscoring the challenges of a gradual recovery from a protracted recession that continues to pressure the nation's fiscal framework. According to data released by the Budapest-based statistics office this week, Hungary's Gross Domestic Product (GDP) increased by 1.1% on an annual basis […]

Hungarian economy expected to post weak rebound in 2024

Dec 1, 2023

While third-quarter GDP data surprised on the upside, the underlying weaknesses of the Hungarian economy will mar the 2024 economic rebound, according to a report by BMI, a Fitch Solutions company. A challenging external environment and a tight fiscal position all point in the direction of suboptimal growth next year. In the third quarter of […]

Hungary’s Top Banker Sees Need for Severe Austerity Measures

Apr 29, 2022

Sándor Csányi, chairman of Hungary’s largest commercial bank OTP, warned that the Hungary needs a budget adjustment of up to HUF 1,700 billion. The war in the Ukraine, international energy prices and the outcome of Hungary’s standoff with the European Union will decide the exact extent and nature of the budget adjustment, according to Csányi. […]

Hungary’s Economy Expected to Show Strong Rebound

Jul 2, 2021

Hungary’s economy is expected to make a strong comeback this year following the ravaging impact of the Covid pandemic. The International Monetary Fund and the European Bank for Reconstruction and Development are the latest to project that GDP growth is set to exceed earlier expectations. The International Monetary Fund (IMF) raised its forecast of Hungary’s […]

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