London analysts: Hungary’s growth a big surprise

Nicholas Pongratz

According to London financial analysts, growth in the Hungarian economy may have reached 5% last year. In 2020, this is expected to slow down by one and a half percentage points, writes azuzlet.hu.

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Capital Economics, a London-based global economic and business analyst house, said on Wednesday, when it presented its annual forecasts, that one of the biggest surprises in the whole region was the strong growth of the Hungarian economy last year.

Capital points out that if its 5% growth estimation for last year proves to be correct, then the growth rate of Hungarian GDP is barely below the record set in 2018. That year, they saw a 5.1% growth in the Hungarian economy.

Based on the sharply weakening numbers of forward-looking business surveys, Capital Economics expects Hungarian GDP to slow to 3.5% in 2020. At the same time, it was noted that this pace also outstrips growth potential and somewhat outstrips consensus expectations, azuzlet.hu adds.