Forex | Forex | A slow and fragile recovery awaits Hungary (04/09/2009 13:41:53)

A slow and fragile recovery awaits Hungary

This week we published our Macro Monitor on Hungary. It is an updated outlook on the Hungarian economy taking into account the latest economic releases for July and August. Hungarian economic growth declined further in Q2 09 down to -7.6% y/y, but the decline is reaching the bottom and a slow and fragile recovery of the Hungarian economy awaits. We expect Hungarian GDP to contract 7.1% y/y in 2009 and 0.8% y/y in 2010. July’s VAT hike is likely to slow down the recovery of the Hungarian


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