June 2, 2020 / 12:22 PM / in a month

Hungary central bank governor expects 'modest' economic growth in 2020

BUDAPEST, June 2 (Reuters) - National Bank of Hungary (NBH) Governor Gyorgy Matolcsy on Tuesday said he expected the central European country’s economy to post a modest expansion in 2020, accounting for targeted measures by the bank and the government.

“Pricing the targeted measures of the government and the NBH we can expect a modestly growing Hungarian economy in 2020,” Matolcsy wrote in an opinion piece on the Novekedes.hu news portal.

The government expects the economy to shrink by about 3% this year before bouncing back by 4.8% next year, based on its 2021 budget proposal published late last month. (Reporting by Marton Dunai; editing by Jason Neely)

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