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Econ Development Min Says Hungary May Remain In Recession In Q2

HUNGARY
  • Hungary's Economic Development Minister Marton Nagy told Portflio.hu late last week that the country could remain in recession through Q2 before "a very strong rebound in the third and fourth quarters." The official said that the government sticks with its +1.5% Y/Y GDP growth outlook for this year and expects inflation to slow to single-digit levels by the end of 2023.
  • Hungary's intenational reserves rose to EUR39.88bn in April from EUR39.76bn prior, data from the central bank showed.

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