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World Bank Lowers Hungary 2023 GDP Growth Forecast to 0.5% from 3.8%

HUNGARY
  • The World Bank forecasts Hungary's economy will expand 0.5% in 2023 according to its latest Global Economic Prospects report. The forecast had predicted 3.8% growth in the previous biannual report released in June. Hungary's government forecasts GDP growth of 1.5% for 2023.
  • The government has extended a subsidy programme for SMEs challenged by higher energy prices through the first quarter of 2023, the minister for economic development said yesterday. The government has earmarked HUF120b for such aid, after spending HUF100b in 2022, Bloomberg write.
  • Central Bank Deputy Governor Mihaly Patai will speak at the Euromoney conference in Vienna at 0855 GMT/0955 local time while the Finance Ministry will publish budget balance data for December today at 1000 GMT/1100 local time. There are no other data releases scheduled today.
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