Hungary’s position on the latest CEBR economic ranking revealed

The Centre for Economics and Business Research (CEBR), one of the most prestigious London-based economic consultancies, publishes its World Economic League Table (WELT) forecasts at the end of each year on the ranking of the world’s economies.

The annual report ranks the countries based on their projected economic performance, making predictions for the next 15 years. The report projects that Hungary’s ranking position will not change in the next 15 years.

The position of Hungary

According to CEBR’s calculations, the Hungarian economy will end this year in 58th place, a position that is unlikely to change in the next 15 years, until 2037.

The report finds that real GDP showed a relatively strong increase over the year, however, several economic challenges affected the Hungarian economy negatively. The recent data shows that the country experienced a contraction of 1.3 percent when measured in US dollars in 2022, which can be attributed to the “forint’s depreciation against the dollar, amounting to around 19 percent this year.”

In addition to this economic downturn, Hungary has also struggled with high levels of inflation in 2022.

Only the Baltic countries and the Czech Republic have a higher inflation rate in the European Union. Inflation has been stronger than the annual average in the latter months of the year, being in excess of 20.0 percent across September, October, and November,