According to a forecast by GKI Economic Research Zrt., after last year’s recession this year brings growth just above the stagnation level and growth in 2014 will be around 1.3 percent only. This year the interest rate level reduces and the forint strengthens, thanks to the favourable financial environment, but the process is going to turn around next year. 2014 is going to be election year in Hungary and this may affect the country’s economic policy too. It is unfavourable that Hungary’s foreign exchange reserve level was just EUR 30.2 billion at the end of September 2013, EUR 7.5 billion less than at the end of 2011. The country is near the risk zone in this regard and it would be reasonable to issue foreign exchange bonds this year, but this step would worsen our debt to GDP ratio, leading to increased risk once again. After the parliamentary elections prices will probably start increasing: for 2013 GKI’s inflation forecast is 1.9 percent and for 2014 it is 2.5 percent. In the first eight months of 2013 the employment rate dropped 0.5 percent at business employing more than five people and at budgetary institutions. Real wages increase by 2 percent this year and are expected to grow by 2 percent next year too. Consumption will only improve by 0.5 percent and 1.5 percent, respectively. n