Analysts: growth can be higher than expected all year

The growth of Hungary’s GDP in the first quarter was slightly higher than expected. As a result the Takarékbank and ING Bank have already upgraded their growth expectations for the whole year.

According to the first estimate issued by the Central Statistical Office (KSH) on Tuesday, gross domestic product (GDP) grew by 4.4 percent, while seasonally and calendar effect adjusted increased by 4.7 percent, compared to the same period of last year. Market-based services, in particular trade and tourism, contributed to the growth to the greatest extent. (MTI)