Dark pages in the forecasts

Economic forecasts by the major research institutes predict that the trade war between the USA and China will continue in 2019. At the same time the European Commission (EC) expects a slowdown in the economic growth of the European Union, which will entail a period of uncertainty. This slowdown will be caused by external factors (e.g. the Chinese economy growing slower) and Europe can only count on itself in dealing with the situation.

The EC’s experts calculate with slower economic growth in Hungary too: after a 4.9-percent expansion last year there will be a plus 3.4-percent economic performance in 2019, and 2020 will only bring a 2.6-percent growth. Experts say that the main reason of this will be a lower growth rate in the building and construction sector. What is more, we must also take into consideration that in the EU’s new budgetary cycle Hungary will receive less funding.