After its 2 per cent increase in 2016, Hungarian GDP is expected to grow by around 3 per cent in 2017. The significant decline in investments in 2016 will be followed by a noticeable growth in 2017 mainly due to the restart of the inflow of EU transfers, while the increase of consumption, which was very rapid last year, will continue similarly. However, the growth rate of imports will only be 2 percentage points faster than that of exports, and the terms of trade will stagnate at best. Inflation is going to pick up. Although economic indicators are expected to be favourable for 2017, there are no signs of any preparation for the post-2020 period following the phasing out of EU transfers.