All is well if it ends well

At the end of the year what we can see is that consumption in Hungary is growing faster than ever in recent years, retail sales have been increasing by around 5 percent for quite a while. The big question is: Will the growth continue in 2017? Well, in the last two years we left all signs of an economic crisis behind. Yes, there are great tensions in Hungarian society, but my view is that this doesn’t influence consumption growth yet.

Net wage trends suggest that the purchasing power will grow next year as well (purchasing power grew, retail performance improved and consumption increased from 2015 to 2016). The consumption of households will be the driving force behind the GDP growth in the next three years – and there is no problem with this at all. Our task is clear: keeping up the growth rate or surpassing it whenever and wherever it is possible. It just takes time and the strength we have in us.