Analysis by Region - Emerging Markets - Hungary
We've cut our 2024 GDP growth forecast by 0.5ppts to 1.6%. The weak external environment and a negative surprise in Q2, when the Hungarian economy shrank by 0.2% q/q, triggered our downward revision. While we think the recovery will reassert itself over the rest of this year, its path will likely prove bumpy. Due to the weaker growth path for the eurozone, we've trimmed our 2025 GDP forecast for Hungary by 0.2ppts to 3.5%, with risks still skewed to the downside.
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