This recent Spring projected forecast was an increase on the previous forecast by the European Commission (EC) of a 4 % GDP growth rate for Hungary.
The EC’s projected average European Union GDP growth rate for 2021, is expected to be 4,2 %.
According to the EC, Hungary’s GDP growth rate for 2022 is projected to be 5,5 %.
The European Commission forecasts that the average household consumption in Hungary, is expected to rebound, thanks to steady real income growth, combined with the increased capacity and wildness of consumers to spend, as restrictions are lifted.
The EC expects the annual inflation rate for Hungary to decrease in 2022 to 3,2 %.