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Weaker crop could reduce Hungary's 2017 GDP growth -cbank
September 14, 2017 / 9:12 AM / 2 months ago

Weaker crop could reduce Hungary's 2017 GDP growth -cbank

BUDAPEST, Sept 14 (Reuters) - A weaker performance of the farm sector this year could reduce Hungary’s economic growth by up to 0.5 percentage point, experts of the National Bank of Hungary said in a study published on website Portfolio.hu on Thursday.

The central bank had projected 3.6 percent GDP growth for this year in its last inflation report in June. It will publish fresh forecasts next week.

“In 2017, agriculture could again contribute negatively to GDP growth,” the central bank said in the study. It said frosts and less rain this year has probably reduced this year’s crop, after an outstanding harvest in 2016.

“Based on our estimates, the sector may reduce economic growth by up to 0.5 percentage point,” they added. (Reporting by Krisztina Than and Gergely Szakacs)

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