Hungary’s first-quarter GDP grew by 5.3% annually, beating market estimates. This is the country’s second highest growth since 1996. It is considered one of the highest growths in Hungary and Europe in the past decade. In the second quarter the growth was 4,9%, up from 4,8% in the same period last year. The result was surprising, because economic data from different sectors announced a slowdown. Construction and industry contributed mostly to growth in the second quarter. Hungary’s GDP growth in the first half of the year was 5,1 %, compared to 4,8% in the same period last year. Finance Minister, Mihály Varga said that Hungarian economy would continue to perform well in the second half of the year because of increasing export capacities of companies, household consumption and more efficient use of EU funds. Analysts expect 4,5 %-4,8 % annual growth for year 2019.
