NBH deputy governor: Hungary economy robust!

Hungary’s economy is robust, with first-quarter growth estimated over 8 percent, which could put full-year growth around 4 percent, Barnabás Virág, deputy governor of the National Bank of Hungary, said on Thursday.

While the tight monetary policy remains, it is moving from the “aggressive” phase to the “gradual”, Virág told the Bankszektor 2022 conference organised by business daily Világgazdasag.

Virág augured a “protracted” fight against inflation and said CPI could peak in the third quarter.

He said average annual inflation could be “around 9-10 percent” this year.

At a monthly policy meeting late in April, the central bank’s rate-setters had put average annual inflation “in the upper third” of the 7.5-9.8 percent forecast in the NBH’s latest quarterly Inflation Report.

Hungary’s year-on-year CPI rose to 9.5 percent in April.

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4 Comments

Anonymous says:

13/05/2022 at 10:26

Hungary’s inflation stands at 9.5%. Would always be wary of what the government tells us (or those connected with the government) fortunately we can research for ourselves. It actually went to 9.5% in April. Very nearly at a 21 year high.
Daniel says:

13/05/2022 at 14:49

… Any conditions? Access to cheap Russian oil and gas? Keep our exchange rate in check? Ripple effects of removing certain price caps?
Anonymous says:

15/05/2022 at 08:21

More ‘bust’ than ‘robust’. Now that the EU is not financing corruption what will the Hungarian government do?
Discreditable : says:

16/05/2022 at 20:28

The FACTUAL position of the Hungarian Econony, is that it continues in a STRONG Downward Trend Motion.
To expect any COMPENSATION from the European Union, is an idiotic position or thought process to adapt.
The GROWING Debt of this present Hungarian Government, is ASTOUNDING.
Inflation – the WRONGNESS of figures still being released by the present Government, as refered to by Anonymous, is just one of the main componentry of the Hungarian Balance Sheet – that is FULL of Falsification, of the actual Economic & Financial LANDSCAPE – in Hungary.
Bleakness and deepening un-certainty, is the short, medium and long term – picture – for the Economic outlook – Hungary.