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Finance Minister Expects Economy to Stagnate in 2023

HUNGARY
  • Speaking in an interview to local news site index.hu, Finance Minister Marton Nagy said the government's 1.5% GDP growth forecast is not attainable: "According to my expectation, GDP growth may be around zero in 2023, due to this year's consumption shock, the 1.5 percent forecast previously indicated by the government cannot be maintained. And this is the problem: the consumption shock must recover. For this, the most important thing is to reduce inflation, which already has a significant chance in November, and is expected to decrease to single digits."
  • "Personally, I think that the prime minister's position is the guiding principle: single-digit inflation is the most important thing this year, and the restoration of the economy next year. This is a priority for the government. After this year's temporary slowdown, we will restore the economy in 2024," he said.
  • Click here to see the full interview
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