MNB director: economic growth can permanently exceed 3.5 percent

The Hungarian economy is expected to reach an over 3.5 percent growth this year and the next year, and the Hungarian National Bank (MNB) expects that the 3 percent inflation target will be reached in the middle of 2019 – Balatoni András, director of the Hungarian National Bank told M1 news channel.

He stated that the expansion of the economy significantly exceeds the EU average, but the whole region is performing well, thus the focus of European economic growth has shifted to Central Europe.

The director emphasized that this year’s growth could only be mitigated by one-off technical impacts, as, for example, there are more holidays than in the past year, which could slightly slow down the industry’s performance, but also we should calculate with the model change of the major automakers as well. (MTI)