Analysis by Region - Emerging Markets - Hungary

Analysis by Region - Emerging Markets - Hungary

We have kept our GDP forecast unchanged this month and expect a 0.8% contraction in 2023, to be followed by a 2.6% rebound next year. In line with last month's call, GDP for Q2 surprised to the downside, having fallen 0.3% on the quarter, extending the streak of sequential contractions to four. We think that the rebound over H2 will be gradual as domestic policy remains tight and we see little prospect of a meaningful pickup in demand, especially foreign, before Q4.

Hungary: Another GDP fall in L2 sets poor starting point for D2
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and Structure of trade

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