This is an even better forecast by the Hungarian National Bank (Magyar Nemzeti Bank – MNB) which in its previous assessment in December last year (2020), had forecast a growth rate of between 3.5 % and 6 %.
The Hungarian National Bank (HNB) estimates that the average annual inflation rate for this year (2021) will be around 3.8 – 3.9 %, which is slightly above the previous forecast last year in December, where the HNB forecast had a range of between 3.5 – 3.6 % for 2021.
The HNB forecast for the CPI inflation rate for 2021, is projected to be around 2.9 – 3 %; however it has kept it’s projected 2023 inflation forecast unchanged at 3 %.
The Hungarian Central Bank foresees that the economy will expand by between 5 %- 6 % during the course of next year (2022), and by 3.5 % in 2023.