CENTRAL OFFICE OF STATISTICS: HUNGARIAN ECONOMY SLOWING DOWN

The main macroeconomic indicators unanimously show the slowing down of Hungarian economy while the state budget deficit is very high and the unemployment is also rising, the latest report of the Central Office of Statistics says.

The office publishes for the first time the summary of macroeconomic data of the first quarter of the year 2005. The only positive aspect of the report is that the inflation rate (3,7 pc) also shows a degressive course. GNP has increased only by 2,9 pc and the predicted 4 pc GDP growth probably cannot be achieved this year. The deterioration can be observed in the commodity producing branches while the field of services and investments shows improvement.

Translated by Péter Szentmihályi Szabó