Hungary Economic Forecast

Hungary Economic Outlook

November 28, 2017

Preliminary data showed that the economy picked up steam in Q3. Annual GDP growth accelerated from 3.3% in Q2 to 3.6%. While a breakdown by components is not yet available, the acceleration was most likely buttressed by the domestic economy. Consumer and business confidence readings throughout the third quarter were extremely elevated due to the rapid rise in disposable incomes, declining unemployment, loose monetary conditions and inflows of EU investment funds. The far-reaching fiscal stimulus measures implemented by the government, together with the resilience of the economic drivers, should guarantee that the momentum in growth will carry through the final quarter of the year. Noting these developments, Fitch Ratings revised Hungary’s outlook from stable to positive and affirmed its credit rating at BBB- on 10 November. The agency pointed out that Hungary’s vast current account surplus and declining external debt have reduced its exposure to external shocks.

Hungary Economic Growth

Economic growth is set to moderate in the next two years but should nevertheless remain strong on the back of expansionary monetary and fiscal policies. FocusEconomics panelists project the economy will expand 3.4% in 2018, which is unchanged from last month’s forecast. For 2019, they pencil in growth of 2.8%.

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Hungary Facts

Bond Yield2.160.0 %Dec 06
Exchange Rate266.5-0.68 %Dec 06
Stock Market37,5920.04 %Dec 06

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