GKI: Growth in consumption can accelerate the economy next year

The Hungarian economy is on the track indicated in September 2017. Economic growth will accelerate as a result of the start of EU subsidies and the accelerated consumption growth triggered by rapid wage fluctuations. GDP growth will be 3.8 percent in 2017 and in 2018, after the 2.2 percent of 2016.

This is well above the EU average, but one of the lowest in the region, and in 2018 it is unlikely to change significantly. At the same time, GKI also increased its projection for consumption growth by 0.5 percentage points, to 4 percent for 2017 and to 3.5 percent for 2018, which is causing faster import growth than previously thought.