The Takarékbank has raised its economic growth forecast this year

The Takarékbank (Savings Bank) is expecting a further boost in investment, raising this year’s GDP growth forecast from 3.9 percent to 4 percent, and next year forecasting 4.2 percent instead of the previous 4.1 percent – Suppan Gergely, the banks’s analyst told at the financial institution’s press conference on quarterly economic outlook on Wednesday in Budapest.

The analyst explained that investments could grow by 24 percent this year: in addition to automotive developments, housing, office and other industrial and real estate investments are supporting growth. The rise of larger public investments (for example transport developments, the reconstruction of the Puskás Ferenc stadium and the expansion of the Paks nuclear power plant) is expected in the near future. (MTI)