Hungary’s GDP to grow more next year than expected
The finance ministry says it expects the economy and GDP will grow by 5.9 percent next year.
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The 2022 budget law targets growth of 5.2 percent, but government measures are expected to lift consumption, according to a ministry forecast for the 2021-2025 period published on Wednesday. Household consumption in 2022 is likely to increase by 6.7 percent, up from 3.6 percent expected this year.
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Personal income tax forgiveness for young employees and a rebate for households with children, as well as a pension supplement, among other measures,
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may add 1.63 percentage points to GDP growth next year,
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the ministry said.
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