GKI published its forecast for 2017

Last year, the Hungarian economic growth slowed strongly, compared to the previous two years, mainly to the decline in EU funds and the decrease in investments.

The GDP increased by 2 percent (as it was projected by the GKI) and less than the 2,5 percent forecast of the government and the 2.8 percent projection of the Hungarian National Bank (MNB). According to the data suitable for international comparision, the rate of growth in the entire year (1.8 percent) was equivalent with the average of the EU, but in the region it was only higher than the Estonian and Latvian data.

GKI – primarily due to the base effect of the much weaker than previously thought investment performance of last year raised its 2017 GDP forecast from 3 percent to 3.2 percent. It is halfway between the IMF’s 3 percent and the EU’s 3.5 percent forecast, and lower than the 4.1 percent expectations of the government.