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GKI RAISES 2019 GROWTH FORECAST TO 4.3%

 

Economic research institute GKI has raised its projection for this year’s GDP growth to 4.3% from 4.0% in a forecast released in June. Hungary’s economic growth probably slowed down in the second quarter less than previously expected from the exceptionally strong growth of the first quarter, GKI said, and the weather seems to have supported the farm sector more than before. Because of last year’s high level, the investment-boosting effect of EU transfers is already declining, GKI said, and the rise in household purchase power is slowing down as well. In addition, the EU’s business confidence index is at a low of almost three years, the Hungarian index stands at a two-and-a-half-year low, and the German industrial confidence index is at a five-year low, GKI added.