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MNB reduces investment growth forecast to 2.2% for 2015

MNB reduces investment growth forecast to 2.2% for 2015

BUDAPEST: The National Bank of Hungary (MNB) reduced its projection for investment growth this year to 2.2%  from the previous 5.2%, according to its quarterly Inflation Report published today.

The MNB noted that gross fixed capital formation had decreased in the first quarter, mainly because of a fall in public sector investments after the utilization of European Union monies peaked during the 2007-2013 funding cycle wind up.

The MNB projected investments would decline by 2.1% in 2016, even more than the 1.2% drop forecast in the previous Inflation Report.