... Economy.... Hungary's economy has never been in better shape, said the head of Banking Association recently. Economic fundamentals look solid: wages are rising by double-digits, employment is at an all-time high and the construction sector and investments are booming, not least because of the absorption of EU funds.
Double-digit wage hikes, rising consumer spending, and the EU-funded investment boom are the main drivers of growth. Growth beat analysts’ projections significantly in Q3, rising by a calendar-adjusted 5.2%, the strongest pace since 1996. The government’s official 4.3% growth target for 2018 seems conservative in the wake of recent upgrades by international institutions. Full text