The most optimistic forecast for Hungary’s economic growth, is by the National Bank of Hungary (MNB) which has for one, predicted overall growth in 2020, although they do speculate that this growth may take place at a moderate pace, ranging between 0.3% – 2.0%. MNB’s Economic growth forecast for Hungary in 2021, is predicted to be excellent, ranging between 3.8% – 5.1%; while for the period 2022 they foresee a very positive GDP growth rate of between 3.5% – 3.7%.
The Sovereign Credit ratings agency – Moody’s has recently (June) awarded Hungary a credit rating level of ‘Baa3’ with a stable outlook. Moody’s acknowledges that there will be a contraction in the economy during this year due to the affects of the coronavirus epidemic; but despite this they foresee a recovery taking place during the 2nd half of this year 2020, and go so far as to predict a strong rebound during 2021 with an estimated GDP growth rate of 4% for the country.
Overall International economic experts such as Morgan Stanley have also provided positive Economic Growth forecasts for next year – 2021 with their estimated growth forecast of 4.6% for Hungary; while another major international financial Corporation – Fitch Ratings has predicted a GDP growth rate of 5.4% for Hungary during 2021, thereby supporting overall positive forecasts for real growth for Hungary for next year.