OECD: Hungary economy "prospering" but risks remain

The Organisation for Economic Co-operation and Development (OECD) acknowledged Hungary's strong GDP growth, but warned that the economy faces risks such as a labour shortage in a country survey published on Thursday. Hungary's economy is "prospering", OECD said in the report, citing strong domestic demand supported by income gains as well as dynamic business and housing investments, declining unemployment, and broad-based wage increases. Productivity growth has accelerated, but remains "well below" real wage growth and the rate in the decade before the global financial crisis, it added. The OECD earlier projected Hungary's GDP growth would reach 3.9 percent in 2019 and 3.3 percent in 2020.