Varga Mihály: the Hungarian economy may grow by 6.8 percent this year

By: Trademagazin editor Date: 2021. 11. 04. 11:35

Due to soaring energy prices, rising inflation and deteriorating virus situation, the Ministry of Finance (PM) expects 6.8 percent economic growth this year, lowering previous expectations, said Finance Minister Varga Mihály at the international insurance conference of the Hungarian Insurers’ Association (Mabisz) on Thursday in Budapest.

Ministry of Finance lowers economic growth forecast

The minister recalled an increase of 7-7.5 percent was expected two months ago. Among the reasons for the more subdued growth expectations, he highlighted that rising energy prices will significantly slow down the performance of European economies, and inflation may be higher in parallel. (MTI)