GKI: economy is growing at an annual average of 4.3 percent this year

GKI Economic Research Co. has raised its forecast for economic growth this year, expecting 4.3 percent instead of the 4 percent forecasted in June – Vértes András, GKI’s president said at a press conference in Budapest on Monday, announcing GKI’s latest quarterly forecast.

He indicated that gross domestic product (GDP) grew rapidly in the first half of the year, with GDP growing by 5.1 percent, but GKI researchers expect a sharp slowdown in growth in the second half. Due to deteriorating economic activity in Europe GKI expects GDP growth to be just under 3 percent, at around 2.7 percent, in 2020. (MTI)