Growth & Fiscal Policy Remain Largely Intact

HUNGARY - Report 13 May 2015 by Istvan Racz

Executive Summary

Preliminary Q1 2015 GDP (+0.6% qoq, +3.1% yoy sda) was slightly down from last year but growth is still running at relatively high pace, due to strong consumer demand and impressive export data. The government’s 2015 GDP forecast has been raised to 3.1%, suggesting that the economy will not cool further over the rest of this year. The EU Commission’s spring forecast was just slightly less optimistic, expecting 2.8% growth for 2015.

The government’s upwardly amended GDP forecast underscores the importance of correcting the forint’s earl...

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