IMF lowers Hungary 2016 GDP growth forecast to 2.3%

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The International Monetary Fund (IMF) yesterday lowered its projection for economic growth in Hungary this year to 2.3%, down from the 2.5% the IMF had projected in October. 

The projection, published yesterday in the IMFʼs latest "World Economic Outlook", is below the governmentʼs official forecast for 2.5% growth. In the report, the IMF projects Hungaryʼs GDP growth rate will pick up to 2.5% in 2017.  

The report forecasts consumer prices will edge up 0.5% this year. Hungaryʼs current-account surplus is seen reaching 5.4% of GDP this year, up from 4.3% in the previous forecast. The surplus is expected to narrow to 5.2% in 2017.  

The IMF projects Hungaryʼs unemployment rate will fall from 6.7% this year to 6.5% in 2017. In October, the IMF projected the unemployment rate would reach 7.0% this year.

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