BUDAPEST: Economic research institute GKI has raised its projection for this yearʼs GDP growth to 2.7% from 2.5%. GKI raised its projection from 2% to 2.5% just three weeks earlier on strong first-quarter growth and an improved outlook.
Hungaryʼs economy grew 3.4% year-on-year in Q1, faster than expected. Hungaryʼs government projects GDP growth of 3.1% this year. GKI projects consumption growth will accelerate to 2.5% this year from 1.5% in 2014, while fixed capital formation will stagnate, after climbing 11.7% last year.
