GDP will decline by 1.5 percent this year, next year it will increase with the same percentage

According to the GKI Economic Research Zrt., this year, the gross domestic product (GDP) will decline by 1.5 percent. GKI believes that in 2013 it will increase by the same extent. GKI also raised its inflation forecast: the inflation rate will be 5.3 percent in 2012 instead of the previously expected 5 percent.

Vértes András, chairman of GKI told at the company's Wednesday press conference, that compared to their latest forecast of December, they did not change their prognosis. The Hungarian economy is still lagging behind the region, compared to its potential. GKI predicts a 4.5 percent increase in industrial production, but various downturn is expected in other areas of the economy. (MTI)