GKI raises 2018 growth forecast to 4pc in Hungary

Economic research institute GKI raised its projection for this year’s GDP growth to 4 percent from 3.8 percent in a forecast in January.

GKI said that GDP, wages and consumption have grown faster than expected.

The projection is still under the government’s official forecast of 4.3 percent growth.

GKI sees industrial output climbing 5 percent and it expects the construction industry to expand by 10 percent.

Investments are set to climb 9 percent.

Retail sales growth is seen accelerating to 6 percent.

The researchers now expect the average gross wages to rise by 10 percent this year after climbing 12.9 percent in 2017.

They project average annual inflation will reach 3 percent, the National Bank of Hungary‘s mid-term target, in 2018.

As we wrote today, the new OECD findings said, Hungary is at the very bottom of the list in terms of salary. The country’s situation is different regarding gross and net earnings. Read more HERE.

Also we wrote before, the data about the number of foreigners living in Britain in 2017 has just been published. Local newspapers focused on the fact that a tenth of the population is still not British, the huge number of Polish living in the country as well as the rising number of Romanians who arrived in the country last year. However, the data about Hungarians is also worth taking a look at. Read more HERE.

Source: MTI/GKI