Josef hírek

2011.10.08. 18:44

Kopint-Tarki predicts 0.5pc GDP growth for 2012

Budapest, October 5 (MTI) - Economic research company Kopint-Tarki on Wednesday said it had lowered its economic growth projections for Hungary to 1.5 percent in 2011 and 0.5 percent in 2012.

Budapest, October 5 (MTI) - Economic research company Kopint-Tarki on Wednesday said it had lowered its economic growth projections for Hungary to 1.5 percent in 2011 and 0.5 percent in 2012.

In its previous forecast, published in June, Kopint-Tarki put gross domestic product (GDP) growth at 3 percent for both 2011 and 2012.

 

The range for the projection for 2012 is 0-1 percent, but a worse scenario cannot be ruled out, said institute director Eva Palocz.

 

Kopint-Tarki raised its projection for annual average inflation in 2012 from 3.6 percent to 4.6 percent. It sees consumer prices climbing 4.0 percent in 2011.

 

Private consumption is expected to decline by 1 percent in 2012, while investments remain flat. Exports are set to rise 6 percent while imports to rise by 5 percent.

 

Last week, economic think-tank GKI lowered its growth forecast to 1.5 percent this year and to negative growth of 1.0 percent next year.

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