Magyar Bankholding: A positive turn in the economy is expected from the second quarter of the year
A positive turn can be expected from the second quarter of 2023: the Hungarian economy may once again be on the path to growth, consumption may gradually improve, and inflation may begin to decline permanently. Magyar Bankholding’s macroeconomic analysts revised their annual GDP growth expectations upward, while according to their calculations, inflation could be in the single digits by the end of 2023. The tightness of the labor market may loosen this year. The forint exchange rate will most likely remain at a level close to the current one.
Magyar Bankholding’s macroeconomic analysts regularly assess the processes of the domestic and international economy and provide forecasts for the period ahead. In April, they evaluated the first quarter of 2023 and gave an outlook on the months ahead.
The outlook for the Hungarian economy this year is significantly improved by the pending acute energy crisis, the adaptability of European economies, the continued decline in energy prices, and the resilience of many sectors.
“Accordingly, we are slightly modifying this year’s growth forecast from 0.8 percent to 1 percent. In the coming years, growth may accelerate again, which will be supported by new industrial capacities in addition to recovery, the latter may be especially powerful in 2025, as many significant manufacturing developments are planned to be put into operation”
– said Gergely Suppan, senior analyst at Magyar Bankholding.
Related news
K&H Analyst Commentary: What awaits Hungarian inflation?
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Poultry and egg prices continue to rise – consumers can expect permanently high prices
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >The world is amazed by us: we are setting a world record in the pace of wealth creation, Blochamps’ prognosis predicted this already in 2019
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
KSH: in September, consumer prices exceeded the values of the same month of the previous year by an average of 4.3 percent
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >The European Parliament has adopted a new, stricter definition of meat
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Honey Trial 2025 – Record prizes and a challenging year for domestic beekeepers
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >