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Hungarian GDP growth might be over 4 pct in 2017: minister

Xinhua, May 16, 2017 Adjust font size:

The Hungarian economy will grow 4 percent in 2017, National Economy Minister Mihaly Varga told a press conference here on Tuesday.

"Hungary's economy grew by 4.1 percent on an annual basis, according to preliminary data," the Central Statistics Office (KSH) said earlier in a statement on Tuesday.

This was well above the consensus of the experts, who tabled on a figure of 3.5 percent. Compared to the previous quarter, the increase was of 1.3 percent, according to KSH.

"The growth of the whole economy is quite positive in the first quarter, which is mainly due to the performance of the industry, the sector of construction and the services," Varga said.

"Our ministry is expecting the growth of the Hungarian economy to stay above 4 percent during the whole year, and we have every reason to believe that this can be achieved," he added.

Varga also said he hoped that different credit rating agencies and international organizations would respectively modify their expectations regarding Hungary, based on the recent favorable data. Enditem