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Hungarian GDP

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Hungarian GDP Deficit 2.8% in the First Six Months

D&T
Sep 30, 2022

According to preliminary data, the deficit of the general government sector in the 1st half of 2022 was HUF 893 billion, 2.8% of GDP. The balance improved by HUF 627 billion, or by 2.9 percentage points as a proportion of GDP compared to the same period of the previous year. In the 1st half of […]

GDP: Consumption Pulled Growth by Public Handouts

D&T
Sep 1, 2022

Consumption growth was the most significant factor in the second quarter GDP growth figure of 6.5%, which exceeded expectations, with the tourism and logistics sectors leading the expansion. For the third quarter, analysts expect a significant contraction, the business news site napi.hu reports. In the first half of 2022, economic output was 7.3% higher than […]

Hungarian GDP up 6.5% on Pandemic Year Base

D&T
Aug 17, 2022

Hungary’s gross domestic product increased by 6.5% in the 2nd quarter of 2022 compared to the corresponding period of the previous year. Raw data and seasonally and calendar adjusted and reconciled data were identical, the country's Central Statistical Office reports. All sections contributed to the growth except for agriculture. Compared to the previous quarter, the […]

GKI: Higher Hungarian GDP in 2022 and Lower in 2023

D&T
Jun 30, 2022

The Hungarian Economic Research Co. GKI has revised its growth forecast for 2022, it raised its GDP forecast to 3.5-4% from the previous 2.5-3%y, and lowered its GDP forecast for 2023 to between 2.5-3% from 3.5-4%. The change is a consequence of faster-than-expected growth in the first quarter and stronger-than-expected austerity measures and inflation rate, […]

Hungarian GDP Down by 2.1% Year-On-Year

D&T
Jun 1, 2021

The volume of gross domestic product lessened by 2.1% in Hungary in the first quarter of 2021 compared to the corresponding period of the previous year, the country's Central statistical Office reports. According to seasonally and calendar adjusted and reconciled data, the performance of the economy became 2.0% higher than in the previous quarter and 1.6% […]

2020 Hungarian State Deficit at 8.1%, Debt at 80.4%

D&T
Apr 1, 2021

According to preliminary data the deficit of the general government sector in 2020 was HUF 3,870 billion, 8.1% of GDP. The balance deteriorated by HUF 2,882 billion, or by six percentage points as a proportion of GDP compared to the previous year. According to the country's Central Statistical Office (KSH), the significant deterioration was due to the economic impact of […]

4th Quarter GDP Data Down on Previous Year

D&T
Feb 16, 2021

Although, economic performance in Hungary grew by 1.1% compared to previous quarter but it decreased by 3.7% compared to a year earlier. The gross domestic product of Hungary went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2020 compared to […]

Hungarian GDP Grows but Down Year-on-Year

D&T
Dec 1, 2020

The volume of gross domestic product went down by 4.6% in Hungary in the 3rd quarter of 2020 compared to the corresponding period of the previous year. According to seasonally and calendar adjusted and reconciled data the performance of the economy was 11.4% higher than in the previous quarter and 4.6% lower than in the corresponding […]

Protracted Gloom?

D&T
Sep 18, 2020

The second wave of the coronavirus epidemic is proving optimists wrong. The increasing number of infections recorded over the past weeks is a somber realization that the virus is back with a vengeance and there is an increasing chorus of economic analysts predicting an economic crisis that may last for years. For many people life […]

In the Grip of the Second Wave

D&T
Sep 11, 2020

With the number of daily coronavirus infections reaching record highs, it is no longer a question whether Hungary is now in the midst of the second wave of the coronavirus epidemic. Although the border closure was a drastic step, it is evident that the government is working to avoid strict measures in order to shield […]

Hungarian GDP Decreases by 13.6%

D&T
Sep 2, 2020

The volume of gross domestic product declined by 13.6% in Hungary in the 2nd quarter of 2020 compared to the corresponding period of the previous year, the country’s Central Statistical Office reports.   The extraordinary situation resulting from the corona virus pandemic had a disadvantageous impact on the performance of most sections of the economy. […]

GKI Economic Forecast for 2020

D&T
Jul 10, 2020

The Hungarian economic research institute GKI currently expects the Hungarian economy to decline by 5-7 per cent in 2020 (assuming no second wave of the pandemic this year).  In March, shortly after the announcement of the coronavirus emergency, GKI forecast two scenarios: one with a 3% and another with a 7% decline in GDP this […]

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