Hungary’s GDP growth may go above three percent

Ernst & Young’s quarterly Eurozone Forecast reveals that this year Hungary’s economy may grow by 3.3 percent – this would be the best performance since 2006. Ernst & Young CEO István Havas told that growing above the average will probably be sustainable in the next few years but it will stay below the record level, somewhere around 2.2 percent. The drivers of the good performance are the monetary policy, positive trends in world economy and internal consumption growth; risks include a weak forint, planned fiscal measures and the influence of world politics on the economy. According to the company’s forecast, economic growth will be 0.9 percent in the euro zone in 2014, but it will reach 1.5 percent in 2015 and go up to 1.7 percent in 2016. The unemployment rate stopped growing in the euro zone but it will only decrease slowly, probably to 10.6 percent by the end of 2016. Consumption rate will be 0.8 percent this year, 1 percent in 2015 and 1.4 percent in 2016.