Varga targets FY GDP of 4.8 pc

Hungary's economy is expected to grow by 4.8 percent this year, Finance Minister Mihaly Varga told a news conference on Monday. The Central Statistical Office (KSH) forecasts Hungary's economy growing by an annual 5.1 percent in the first three quarters, based on unadjusted data. Hungary's economy is likely to grow by around 4 percent next year, Varga said after attending a meeting of the National Competitiveness Council, a body of business leaders and professionals that makes recommendations to the government.