GDP forecasts for 2012

The external demand, the performance of agriculture and the lack of credit can be the biggest risks in the evolution of next year’S GDP, which according to analysts interviewed on Friday by MTI, can be somewhere between a 0.5 percent decline and 0.3 percent growth, after last year’s 1.7 percent increase.

Hungary's gross domestic product (GDP) in the fourth quarter of 2011 increased by 1.4 percent, compared to the same period of last year. The increase was driven primarily by agriculture and by industrial exports. The economy’s performance expanded by 1.7 percent in 2011 – the Central Statistical Office told on Friday.

The National Economy Ministry (NGM), called attention to the fact that Hungary’s GDP growth is much higher than the average of the European Union, so the country continues to catch up. (MTI)