Hungary economy to grow 0.5 pc in 2013 – Kopint-Tarki

Budapest, October 10 (MTI) – Hungary’s economy will contract by 1.2 percent this year and grow 0.5 percent in 2013, according to economic research firm Kopint-Tarki.

Earlier, the firm forecast output shrinking by 1 percent before adding 0.7 percent next year, Eva Palocz, Kopint-Tarki’s chief, told a news conference on Wednesday.


The budget deficit will hit 2.9 percent of gross domestic product in both years, she said.


Inflation will pick up to 5.8 percent in 2012 (earlier forecast: 5.5 percent) and fall to 4.5 percent in 2013 (earlier projection: 4.0 percent).


The central bank’s base rate will decline to 6.0 percent by the end of the year from the current rate of 6.5 percent, according to Kopint-Tarki’s report.


The forint against the euro will average 290 in 2012 (from 279 in 2011), it added.


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