Gergely Suppan: the recession is clearly over in Hungary
The recession is clearly over in Hungary, from now on the only question is the rate of growth – said the leading economist of the Ministry of National Economy (NGM) in the current program of the M1 channel on Tuesday afternoon.
Responding to the GDP data for the first quarter, Gergely Suppan said that some of the analysts were surprised by the figures published by KSH on Tuesday, especially those who did not take into account the effects of smaller sectors.
Tourism and catering definitely added to the performance of the economy, and the turnaround of retail trade was already visible at the beginning of the year, as was the boom in lending, which is due to state subsidies and the reduction of loans, the leading economist pointed out.
According to Gergely Suppan, the signs of growth were visible last year as well, and now we must strive for the rate of growth to exceed 4 percent next year. Retail turnover is still subdued today, but due to high employment and significant real wage growth, customer caution may quickly dissipate and consumption may rise in the coming months, he emphasized.
Related news
Inflation in the OECD stagnated at 4.1 percent in August
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Research: How different generations view social labels
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >The world is amazed by us: we are setting a world record in the pace of wealth creation, Blochamps’ prognosis predicted this already in 2019
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
K&H Analyst Commentary: Hungarian industry continues to decline
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production fell by 7.3 percent compared to the same period of the previous year and by 2.3 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >NGM: fixed 3 percent SME loan launched on October 6
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >