GKI forecast for 2021-2022 – Ahead of the parliamentary elections
GKI forecasts a 7-percent economic growth for 2021. In the first half of the year the increasing export surplus was the engine of growth, while in the second six months of 2021 consumption and investment are expected to drive growth.
In 2022 Hungary’s growth rate is likely to slow down to 5 percent. Since there will be parliamentary elections in 2022, the budget will encourage consumer spending. At the same time the expansion will probably slow down in every sector – with the exception of tourism. The consumption of households will reach the 2019 level, as in election years the government tends to increase the minimum wage and the real income.
As for the investment rate, it is still rather high at 27-27.5 percent. Then problem is that few projects seek to modernise the economy or society. The level of employment will rise 1 percent in 2021 and grow by 0.5 percent in 2022. This year one euro will cost 355 forints and next year around 357 forints. The inflation rate for 2021 is 4.7 percent and it is forecasted to be 4 percent in 2022. //
Related news
GKI expects a 3.5% drop in purchased consumption in 2024
In its late December publication, GKI essentially confirmed its September…
Read more >MMOSZ: The labor market may become tighter in 2024
“We can expect an increase in employment in our strengthening…
Read more >GKI: jövőre alig 2% feletti lesz csak a növekedés
A magyar gazdaságban az idei második negyedévben már negyedik negyedéve…
Read more >Related news
Grilling cheese didn’t go up in smoke
The average price of grilling cheese is much higher (nearly…
Read more >What do shoppers say about the new retail tools?
At the beginning of the year, Consumer Panel Hungary GfK–YouGov asked panel…
Read more >Special foods ranking: 1. Diabetic, 2. Low-carb, 3. Lactose-free
Different special diets and foods are frequently discussed, and it…
Read more >