EBRD puts Hungary GDP growth at 1.8 percent in 2024, 3.3 percent in 2025

Written by BT/MTI

The European Bank for Reconstruction and Development (EBRD) forecasts Hungary’s GDP will grow by 1.8pc in 2024 and 3.3pc in 2025 in its latest Regional Economic Prospects report released on Thursday.

The EBRD lowered the forecast for 2024 by 0.4 percentage point from the previous report published in May.

Hungary’s economy grew 1.3pc year-on-year in the first half, driven by a close to 10pc surge in real wages, the EBRD noted.

The EBRD said Hungary had become a “key destination” for Chinese foreign direct investment, adding that, in 2023, the country had captured 44pc of all Chinese FDI flows in Europe, largely directed towards the electric vehicle sector. That FDI inflow, estimated at nearly EUR 5bn in 2023 and the first half of 2024, created around 9,000 jobs, it added.