Savings Bank: private consumption can be the engine for economic growth

The Savings Bank analysts say that the GDP in 2015 will increase by 3.3 percent in Hungary, while they believe that inflation will be higher than expected, an annual average of 0.4 percent in 2015, but this does not affect the Central Bank's interest rate cut track.

Suppan Gergely, the senior analyst of the financial institution told at the bank’s press conference on Wednesday in a in Budapest that despite the weaker first-quarter data the national economy investments may grow modestly further, but the consumption growth will be the main driving force in the coming quarters,.

Employment continues to grow, the bank's analysts expect an unemployment rate of 7.2 percent this year. (MTI)