The European Bank for Reconstruction and Development (EBRD) has revised Hungary’s GDP growth forecast for 2024 to 1.8%, down by 0.4pp from its May report. Growth is expected to accelerate to 3.3% in 2025, although this is lower than the 3.5% target projected four months ago, according to the development bank’s latest report published on September 26. Hungary’s 2024 budget, drafted last summer, anticipated a 4% GDP growth. However, the deterioration of the external environment and a slower-than-expected rebound in household consumption forced the government to slash its growth forecast to aroun…