HALISTER1: OTP Bank Cuts Hungarian GDP Growth Forecast to 2.1% in 2016

OTP Bank Cuts Hungarian GDP Growth Forecast to 2.1% in 2016

(Bloomberg) -- OTP Bank cuts growth projection from 2.3% following weaker-than-forecast 3Q GDP data, according to e-mailed report.
  • GDP growth may accelerate to 4% in 2017 on “robust” household spending, fueled by 15% minimum-wage increase from Jan.; rising EU transfers compared with 2016 to help expansion
  • NOTE: Hungary’s Industrial Output Decline Fuels Worry About Expansion
  • NOTE: Hungary’s Economic Growth May Reach 2.5% This Year, Varga Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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