Hungary Economic Outlook
February 6, 2018Prime 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 GrowthHungary’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%.
Hungary Economy Data
5 years of Hungary economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.63||0.0 %||Feb 22|
|Exchange Rate||254.0||-0.68 %||Feb 22|
|Stock Market||38,644||0.04 %||Feb 22|
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Hungary Economic News
February 14, 2018
The Hungarian economy shifted into a higher gear in the final quarter of the year.
February 13, 2018
Consumer prices rose 0.3% month-on-month in January, coming in above the flat reading observed in December.
February 13, 2018
According to revised data released by the Statistical Institute (KSH) on 13 February, industrial output rose a working-day adjusted 4.5% year-on-year in December, accelerating from the 3.6% expansion observed in November.
January 30, 2018
At its latest monthly monetary policy meeting held on 30 January, the Monetary Council of the Hungarian National Bank (MNB) decided to hold the base rate unchanged at its current record low of 0.90%.
January 12, 2018
Consumer prices fell from a 0.4% month-on-month increase in November to a flat reading in December.