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EC PROJECTS 4.0% GDP GROWTH IN HUNGARY IN 2021

 

The European Commission projects Hungary’s GDP will grow by 4% this year and 5% in 2022. The EC modified its estimate for last year’s GDP decline to 5.3% from 6.3%. It said industry, construction and retail sales remained strong in October and November but the rebound was interrupted by the second wave of the coronavirus pandemic which led to more restrictions. An assumed easing of restrictions could lead to a quick recovery from mid-2021, it added.