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IMF sees Hungaryʼs GDP growth slowing in 2019

The International Monetary Fund (IMF) is predicting that Hungaryʼs GDP growth could slow to 2.8% in 2019, from a projected 3.2% this year and 3.4% in 2018, according to the November issue of its regional economic outlook for Europe, cited by state news wire MTI.

The IMF said domestic demand could increase by 2.7% two years from now, gross investment as a share of GDP could reach 20.9%, annual inflation could stand at 3%, and unemployment at 4.3%.

The general government deficit could reach 2.3% of GDP in 2019, while the general government gross debt could fall to 70.2% of GDP, said the IMF report. The current account surplus should diminish to 3.2% of GDP, it added.

For 2017 and 2018, the IMF reiterated the macroeconomic forecasts it made in the October issue of its World Economic Outlook report. The IMF also confirmed that it projects consumer prices will rise by 2.5% in 2017 and 3.2% in 2018. The unemployment rate should edge down from 4.4% this year to 4.3% next year, it added.

The IMF projects GDP growth of just 3.2% this year, and 3.4% in 2018. By comparison, Hungaryʼs government projects GDP growth of 4.1% and 4.3% in 2017 and 2018, respectively.