Finance ministry: EC forecast for Hungary GDP ‘finally based on facts’

The European Commission’s latest forecast for Hungary’s economic growth is “finally based on facts”, an official of the finance ministry said on public television late on Wednesday.

Deputy state secretary László Balogh said on news channel M1 that

the EC’s quarterly economic forecast for Hungary was prepared professionally and with “real numbers”.

The EC’s experts couldn’t ignore the fact that Hungary’s economic growth did not slow in the first quarter, rather it rose at the fastest clip in the European Union, he said.

Hungary’s GDP growth reached 5.3 percent year on year in the first quarter of the year.

In its forecast released earlier on Wednesday, the European Commission raised its projection for Hungary’s GDP growth this year to 4.4 percent from 3.7 percent. The growth projection is above the government’s target of 4 percent.

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Source: MTI