In 2017 the growth rate of the Hungarian economy accelerates from 2 per cent to 3.2 per cent, mainly due to the restart of EU transfers. Following their decline by 20 per cent last year, investments will expand by 8 per cent in 2017, whereas the growth rate of consumption will accelerate from 4.2 per cent to 5 per cent. As far as production is concerned, it will be boosted by construction, which has already been able to work off a large proportion of its decrease last year. Growth can be projected in all sectors, with the exception of agriculture, where a “natural decline” can be expected after last year’s uptick. Inflation will accelerate. Although external and internal equilibria will deteriorate slightly, they remain favourable. No substantial improvement can be expected in the main factors determining long-term development (in terms of the functioning of institutions, neglecting market solutions, and starting real structural reforms).