GDP growth lower, inflation higher than expected
Economic research firm Kopint-Tárki has lowered its forecast for 2021 GDP growth to 6.1 percent from 6.8 percent in a projection released in the autumn, the firm’s chief executive Éva Palócz said on Wednesday.
Finance Minister Mihály Varga said last week that this year’s GDP growth was targeted at 6.0-6.5 percent. Kopint-Tárki forecast average annual inflation at 5.5 percent this year, higher than 5.1 percent projected by the National Bank of Hungary (NBH).
Output of Hungary’s construction sector rose by an annual 14.5 percent in October, the Central Statistical Office (KSH) said on Wednesday.
The pace of the increase edged up from 14.2 percent in the previous month.
Output of the building segment climbed by 19.7 percent and civil engineering output increased by 9.7 percent. In a month-on-month comparison, construction sector output rose by 1.1 percent, adjusted for seasonal and workday effects.
In absolute terms, output reached 518.6 billion forints (EUR 1.4bn) in October. The building segment accounted for 60pc of the total.
Source:
elomagyarorszag.hu
The Hungarian economy, this article adds to fact, that continues to “Trend” – in a downward Inclination.
The “Core” indicators that are used to access the performance of a countries – Financial & Economic performance – clearly display, that Hungary – are in a deepening serious PLACE.
The Govenor of Hungary’s Central Bank – Gyorgy Matolcsy, when he talks people should listen, has spoken openingly, of Hungary’s – NEED – to stem – this downward inclination – across all core indicators, that are used, in the accessing of a country’s – Financial & Economic performance – and what the short,medium and long term, situation could be, if the present Government – continue on there present Financial/Economic lines of Policy.
Matolcsy – advice is built on the NEED of the present Government – to – Rebalance & Restructure Internally – the direction and decisions they have continue to make in the RUNNING of the Hungarian Economy.
We are in CHALLENGING economic & financial times – waiting for this Omicron strain varient of this Novel virus to reach its Zenith in Hungary, which adds to the hard road forward we are Faced to confront – that is ‘Shouded” by an Economy, that is or needs VACCINATED.