bne IntelliNews
The Hungarian government has abandoned its ambitious GDP forecast less than a week after letting go of its 2024 budget targets.
At a press conference on March 12, Minister of National Economy Marton Nagy said the 4% growth forecast was no longer realistic. It was the first acknowledgment that the growth projections in the 2024 budget, approved in the summer of 2023, were untenable. He blamed the weaker outlook of Hungarian exporters due to the slowdown or recession of Hungary’s main markets in the EU, which accounts for 75% of exports.
