Kopint-Tárki: 5.8 percent decline in the Hungarian economy is expected this year

By: Trademagazin editor Date: 2020. 10. 08. 11:45

Due to the return of the pandemic, Kopint-Tárki expects a 5.8 percent decline in the Hungarian economy this year, compared to the 5.5 percent annual decline indicated in April and the 5 percent forecasted in July – Palócz Éva, CEO of Kopint-Tárki Zrt. said on Thursday at an online press conference was presented, where business cycle report No. 2020/3 titled “The situation and prospects of the world economy and the Hungarian economy in the autumn of 2020” was presented.

She explained that according to their calculations, the decline of the Hungarian economy in the third quarter could be between 5-6 percent, and the decline in the fourth quarter could be around 5 percent.

She noted that the 13.6 percent contraction in the Hungarian economy in the second quarter almost coincides with the 12.2 percent decline forecasted by Kopint-Tárki for this period. (MTI)