MNB: the performance of the Hungarian economy is significantly lagging behind the region

The National Bank of Hungary (MNB) revised down this year’s and next year's GDP expectations.

This year, the Hungarian economy can shrink by 1.4 percent, next year an only 0.7 percent growth is expected. Analysts of the central bank expect a slow recovery, beside deteriorating growth potential. The performance of the Hungarian economy is significantly lower than in the region. In the second quarter of 2012 Hungary officially slipped into a technical recession, because GDP declined in two consecutive quarters. (Világgazdaság Online)