OECD forecasts Hungarian economic growth of 3.9 pc this year

The OECD has stuck to its forecast of Hungarian economic growth of 3.9 percent this year. The projection in the Organisation for Economic Cooperation and Development's biannual forecast released on Tuesday is below the government's 4 percent target. The OECD reckons growth will be 3 percent next year. Private consumption remains strong, helped by rising real incomes and high consumer confidence coupled with supportive macroeconomic policies, the report said. Investment growth is "buoyant", supported by EU funding, housing subsidy schemes and expanding production capacity, it added.