중동부유럽

Global growth has been negatively affected by several factors this year. Geopolitical uncertainty has not decreased but increased with the eruption of the Gaza conflict, and there is no end to the war in Ukraine either. In addition to these relatively short and medium-term changes, we can see that countries in the West have put strong emphasis on the relocation of global supply chains. Words like reshoring, homeshoring, friend-shoring, and slowbalization are buzzwords in world politics nowadays. According to certain analyses, the ongoing changes in supply chains do not create more security in the world, but they merely extend the existing supply chains by channeling the flow of goods through countries such as Vietnam, Mexico, India, Bangladesh, etc. The extension of supply chains means more costs for end users and producers. Therefore, we expect slower growth and higher inflation in the years to come. This is the environment in which Hungary has to develop its economy. This briefing looks at macroeconomic trends in the European Union, especially in Hungary in 2023.