Hungary’s recession could end in the first quarter of 2010, although the economy will probably stagnate during the year, economic think tank GKI said in its latest projection prepared with the cooperation of Erste Bank.
GKI projects industrial output will grow 3.5pc and investments will rise 3pc – helped largely by European Union-supported infrastructure developments – in 2010. IT sees exports rising about 4pc and imports climbing 6pc, causing the foreign trade surplus to narrow to EUR 3.7bn.
Retail sales are expected to fall 1pc.
Gross wages are set to inch up 1pc while consumer prices climb 4.3pc.
The unemployment rate is seen averaging 10.5pc.
The current account surplus is expected to remain flat at EUR 2.8bn.