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Hungary: Hope for Soon Economic Recovery Vanishes
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In the last quarter of 2012, Hungary´s GDP was down by 2.7% compared to the reference period of 2011.
Hungary: Hope for Soon Economic Recovery Vanishes / Picture: © Vindobona.org
In total, Hungary´s GDP shrank by 1.7% last year. Above all, the industrial production, the construction output and the agricultural producer fell dramatically. However, Hungary´s Minister of Economics György Matolcsy is optimistic that the Hungarian economy will reach the turnaround this year. Matolcsy hopes that the German car manufacturers will boost Hungary´s exports. Moreover,…
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