Hungría Economy

Economic growth:

The economy recorded average annual growth of 2.9% in the decade to 2022. To read more about GDP growth in Hungary, go to our dedicated page.

Fiscal policy:

Hungary's fiscal deficit averaged 3.6% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 5.7% in the decade to 2022. For more information on Hungary's unemployment click here.

Inflation:

Inflation averaged 3.6% in the decade to 2022. Go to our Hungary inflation page for extra insight.

Monetary Policy:

Hungary's monetary policy rate ended 2022 at 13.00%, up from 5.75% a decade earlier. See our Hungary monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the forint weakened by 41.1% vs the U.S. dollar. For more info on the forint, click here.

Following Q2’s acceleration on higher private spending growth, the economy likely expanded at a broadly similar annual pace in Q3. In July–August, retail sales growth rose from Q2 on faster real wage growth in the same two-month period plus a softer unemployment rate and healthier consumer sentiment through September. Moreover, goods exports rebounded slightly from Q2 in July–August. That said, in July–August, industrial activity continued to shrink and, tourist arrivals growth decelerated. Moreover, flooding due to Storm Boris in September likely dented activity in late Q3. In politics, in late October, President Orban’s Fidesz party slipped to second place in opinion polls for the first time since he regained power in 2010, raising uncertainty around the 2026 election. In light of Orban’s controversial pre-election policies, this bodes ill for investor sentiment and forint stability.

Projections out to 2034.

57 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 41 expert analysts.

Want to get insight on the economic outlook for Hungary in the coming years? FocusEconomics collects projections out to 2034 on 57 economic indicators for Hungary from a panel of 41 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Hungary economy. To download a sample report on the Hungary's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.