Pénzügykutató Zrt.: GDP will grow modestly by 3.7 percent this year

According to the latest forecast of Pénzügykutató Zrt., while the Hungarian economy grew by a record 4.9 percent last year, this year the momentum will break, it is expected to grow by 3.7 percent – Várhegyi Éva, scientific advisor said at the press conference on Wednesday in Budapest.

He said that one of the main reasons for this is that the external economy is slowing down, tensions are growing in the world economy, and that Europe, which accounts for 80 percent of the Hungarian economy’s export market, faces considerable difficulties. The strongest economy in the euro area, is Germany. Its growth rate is expected to be around 1 percent. (MTI)