Hungary's GDP likely to grow by 3.3% y/y in 2015: Danske Bank

Quotes from Danske Bank:

-Growth has been picking up in Hungary and, after years of stagnation, it is becoming one of the fastest growth economies in central and eastern Europe.

-However, structural problems and weak domestic demand continue to weigh on economic activity. We now expect real GDP growth to have been 4.0% y/y in 2014- up from 1.2% y/y in 2013. We expect growth of 3.3% y/y in 2015.

-Hungary has seen a substantial improvement in external balances in recent years. The improvement in external balances partly reflects the continued improvement in Hungarian public finances but also still weak domestic demand.

-This is by far the most positive element in the Hungarian economy. Continued high political risk and very unorthodox economic policy, on the other hand, continue to weigh significantly on Hungary's long-term growth perspectives.