GKI expects a 3 percent growth in the economy and a 5 percent in consumption next year

The Hungarian economy is essentially proceed along the path indicated in September. Due to the decline in EU subsidies, the 2 percent GDP growth of 2016 is one of the lowest in the region.

In 2017, the dynamics of the Hungarian economy will increase to around 3 percent, due to the accelerating EU subsidies and increase in consumption – GKI forecast. As a result of the substantial wage increases, consumption in 2017 will increase by 5 percent 1 percentage point faster than it was previously expected. The inflation rate is expected to increase from 1.5 percent to 2 percent in 2017 – GKI forecasts.