Hungary Economic Forecast

Hungary Economic Outlook

February 6, 2018

Prime Minister Viktor Orbán set general elections for 8 April, a vote which will likely see him installed for a third term. The Prime Minister, who has ruled uninterruptedly since 2011, has overseen a dramatic turnaround of the economy, with unemployment declining, the fiscal deficit narrowing substantially, and public and external debt levels on a more stable trajectory. The ruling Fidesz party is expected to comfortably win the election, although it remains to be seen if they will clinch a two-thirds majority, which would allow them to consolidate power and implement constitutional changes. The latest indicators suggest that economic activity remains on a solid footing, boding well for Orbán’s political ambitions. Unemployment remained steady at an all-time low in November, and economic sentiment hit a new all-time high in January, breaking the previous month’s record.

Hungary Economic Growth

Hungary’s growth prospects are bright. A tight labor market, expected wage hikes and credit growth will support growth in private consumption, while inflows of EU funds into the economy will boost growth in fixed investment. Similarly, the external sector is expected to grow on higher external demand. Met the why particular panelists project the economy will expand 3.6% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees growth moderating to 3.0%.

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Hungary Facts

ValueChangeDate
Bond Yield2.630.0 %Feb 22
Exchange Rate254.0-0.68 %Feb 22
Stock Market38,6440.04 %Feb 22

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