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Ghana Hungary Chamber of Commerce and Industry

Economic Outlook - Hungary

 

The IMF have concluded in 2013 that favourable global market conditions have eased government funding pressures, but that the econmic outlook requires careful monitoring. Prospects for a quick recovery have weakened and the export orientated manufacturing sector is the most reliable generator of economic recovery.

 

The OECD anticipate that the Hungarian economy will grow by 2.0% in 2014, but the prudent monetary policies should stay to minimise a potentially disruptive depreciation of the Forint.

 

Hungary's main industries are mining, metalloys, construction materials, processed foods, textiles, chemicals, pharmaceuticals and motor vehicles. The main agricultural products are wheat, corn, sunflower seeds, potatoes, sugar beet and the usual pigs, cattle, poultry and dairy products. Hungary uses two different supplies of gas to stop shutdown, but also has a strategy gas reserve.

 

The country will enter into the Euro currency as soon as agreed.