Growth and Budget Strengthen, But Debt and Bank Worries Rise

HUNGARY - Forecast 15 Jul 2014 by Istvan Racz
Executive Summary The key economic issues for Hungary are the momentum of recovery, the fiscal situation, the inflation trajectory and the consequences of government initiatives on banking, reserves, the currency and interest rates. Compared with our April forecast, we expect faster growth, a lower MNB base interest rate and a smaller fiscal deficit, plus a weaker forint, less domestic bank lending and higher government debt. Recent output and demand figures show an impressive upswing in growth, based on expansion in industry and exports, robust construction and fixed investment, and an inc...

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