Macro - Country Economic Forecasts - Hungary
We have cut our near-term GDP growth forecast for Hungary, given the economic fallout from the Russian invasion of Ukraine that will hamper the post-pandemic recovery. Notably, inflation will stay higher for longer, weighing on consumption, a major growth driver last year. In addition, heightened supply shortages will keep a lid on the industrial rebound, especially in the automotive sector. We now expect GDP growth of 4.6% in 2022, down from 5.4% last month. That said, our 2023 GDP growth forecast at 3.4% remains unchanged.
- Hungary: Higher inflation and input shortages to weigh on growth
- Forecast overview
- Recent developments
- Short-term growth outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Risk warnings
- What to watch out for
- Exposure to key global risks
- Long-term prospects
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
- Policy
- Politics
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