The growth will be supported by EU-financed infrastructure projects
The World Bank has improved to 2.6% its projection for Hungary’s economic growth in real terms for this year, BBJ – Online reported on Wednesday citing the bank’s biannual Global Economic Prospects report.
Its earlier projection, from June last year, was for a 2.4% growth.
The growth will be supported by a rebound in public investments including some European Union-sponsored infrastructure projects.
The global lender expects that the growth rate of the country’s gross domestic product (GDP) will be 2.8% in 2018 and 2.7% in 2019.
However, the World Bank put Hungary’s economic growth for 2016 at 2.1%, 0.5 percentage point lower than its earlier forecast. In 2015, the Hungarian GDP expanded 3.1%.
The Hungarian government said at the end of the last year that it sees the 2016 economic growth at 2.1% for 2016, 4.1% in 2017, 4.3% in 2018, and 3.8% in 2019.
Sign in and read the full article in emis.com