GKI lowers its forecast

Economic think tank GKI has lowered its projection for Hungary’s GDP growth to 2.0% from 2.7% for 2008, and to 0.5% from 3% for 2009.

 The Hungarian economy will likely diverge from the path outlined
in the country’s convergence program in 2008 and 2009 as the entire
EU is put on a recession track. Though economic growth will
practically stagnate and unemployment will grow, Hungary’s external
and internal balance will improve.