Coface: growth in the region may slow in the coming years

Although the Central and Eastern European region’s GDP growth is impressive at EU level, growth may slow in the coming years, with regional GDP rising by 3.6 percent in 2019 and economic growth by 3.2 percent in 2020. The Hungarian GDP could grow 4.5 percent this year, and 2.9 percent in 2020, according to Coface’s analysis of the international credit insurance company sent to MTI.

According to the analysis, the GDP of the countries of the region has improved in recent years: in 2017 and 2018, the economy of the region grew on average by 4.6 and 4.3 percent, respectively, the highest since 2008. The growing economic activity of the region was mainly due to the growth of household consumption, in which the significant decline of unemployment and the increase of wages also played a significant role. In addition, the increasing volume of public and private investment has also contributed to growth. (MTI)