The European Commission expects a seven percent decline in GDP in Hungary

By: Trademagazin editor Date: 2020. 05. 06. 11:35

The European Union can expect an unprecedented recession, according to the European Commission’s spring economic forecast published on Wednesday. The eurozone’s economy will shrink by a record 7.75 percent in 2020 and then grow by 6.25 percent in 2021 – index wrote.

The EU economy is expected to shrink by 7.5 percent in 2020 and grow by approximately 6 percent in 2021. Growth forecasts for the EU and the euro area have been revised downwards by about nine percentage points compared to the autumn 2019 economic forecast.
In the case of hungary, the forecast is a seven percentage decrease for this year, followed by six percentage growth next year. (index)