The growth prospects of the Hungarian economy were not improved due to excessive caution at the beginning of the year, but better than expected quarterly GDP data, according to a new forecast by the European Bank for Reconstruction and Development (EBRD) Gábor Regős, Economist of Sector Economics, M1 current channel Saturday evening program.
The EBRD said on Thursday that it will count 4.3 percent in Hungary this year and 3.3 percent in economic growth in 2019, ie by 0.5 and 0.3 percent, improving its forecast in May.
According to Gábor Regős, investments and consumption can be behind the favorable processes. In particular, the growth in durable consumer goods was significant, as – as he said – many of these households delayed their procurement due to the crisis. There are similar reasons behind the real estate acquisitions and renovations that have resulted in building up the construction industry, "he added.
The expert stressed that the eastern part of Europe is well performing according to the EBRD summit, but Turkey's economy is struggling with increasing problems.