Economic growth may be close to three percent in Hungary this year

Hungary's economic growth can reach three percent this year, which will significantly above the average for the euro zone’s GDP growth of 1.1 percent. The basis of the domestic recovery, inter alia is given by the strengthening of consumer confidence, favorable monetary policy and the declining utility grant prices – EY’s latest quarterly Eurozone Forecast states.

“The EY report makes it clear that after the crisis period, we can expect a growth in the euro zone and the entire European Union this year. It is particularly good news that the Hungarian economy may increase by 3 percent, at a much larger extent than in the euro zone. The basis of the domestic recovery, inter alia is given by the strengthening of consumer confidence, favorable monetary policy and the declining utility grant prices. However the low-key external demand and the weak forint, can slow the growth “- Havas István CEO of EY told.