NGM economist: economic growth may exceed 4 percent this year

By: Trademagazin Date: 2024. 01. 09. 12:32

A balanced economic growth of over 4 percent can be achieved this year – said Gergely Suppan, the chief economist of the Ministry of National Economy (NGM) on Tuesday on the current channel M1.

He added that investments and consumption growth will both contribute to growth. Net exports will drive economic growth through the commissioning of new capacities.

He explained that it was already visible from last November’s data that both corporate lending and home lending started to pick up. This is expected to increase this year, he said.

He explained that currently tourism is performing well, developing steadily, and although the sector will recover in several years after the epidemic, in his opinion it could be a breaking point, just as biotechnology, the food industry, or the infocommunications and space industries are also breaking points in the for the Hungarian economy.
Among other things, energy prices can pose a risk to economic operation, he indicated.