The forecast was lowered from 1.8% in the previous WEO published in October.

Hungary's government assumes 1.5% GDP growth this year.

The fresh WEO projects Czechia's economy will contract by 0.5% his year, while Poland's expands by 0.3% and Slovakia's grows by 1.3%.

The IMF puts the average annual inflation in Hungary at 17.7% this year.

Hungary's current-account deficit is set to reach the equivalent of 4.6% of GDP.