According to the forecast of GKI Economic Research Co. prepared in co-operation with Erste Bank recession is expected to bottom out in the second or the third quarter of 2009.
According to the forecast of GKI Economic Research Co. prepared in co-operation with Erste Bank recession is expected to bottom out in the second or the third quarter of 2009. However, the recovery thereafter will not be as spectacular as the downturn was. Actual figures relating to the first quarter are worse than previous forecasts all over the globe, yet the world market panic has eased. Confidence indices indicate pessimism both in the EU and in Hungary, but there has been some improvement. Hungary?s GDP is expected to decline by about 5.5 per cent, the current account deficit is set to decrease markedly and internal disequilibria are likely to be in line with international requirements.
You can download the analysis from here.
