The point is that the Hungarian economy will find itself within a forecast period.
“The government has opened its pages on the updated Convergence Programme: while the economy’s performance may pick up slightly this year, Hungary’s GDP may “rising” next year. Specifically, the Finance Ministry’s announcement on the subject states that the Hungarian economy will It avoids recession even in a dangerous international environment.Thus, it can increase its production by one and a half percent in 2023 as a whole, and by four percent in the next year.At the same time, the department also expects the decline in inflation to accelerate in the second half of the year, which may It leads to single-digit increases in consumer prices at the end of the year, and an average of six percent next year.
At the same time, the aforementioned macroeconomic figures also indicate that there is no question of hurray optimism or the onset of a rosy period. The point is that the Hungarian economy will find itself within a forecast period. In addition, the Convergence Program can also provide a guide to see the conditions under which the Ministry of Finance can plan the central budget for 2024. According to the forecast, the momentum of the Hungarian economy can be maintained in the following years, and the government expects a growth of 4.3-4.5 percent for 2025 and 2026 .
The program also reveals that in the second half of this year, demand and investments may also pick up steam, as retail sales and household consumption begin to grow again as the process of de-inflation accelerates. This can be promoted by the high savings of the population, which can also be used to stimulate consumption. Not to mention that the government has launched a capital program to ensure that companies receive the right amount of funds, whether it is for current assets or realization of deferred investments.”
Opening photo: MTI, Tamás Vasvári
