IMF raises GDP growth forecast for Hungary
The International Monetary Fund (IMF) has raised its projection for Hungaryʼs GDP growth this year to 3.6% in its fresh World Economic Outlook published on Tuesday, local media sources reported.
The projection was raised from 3.3% in a forecast released last October, but is still under the governmentʼs latest forecast for 3.9% growth, noted state news agency MTI. The IMF sees Hungaryʼs GDP growth slowing to 2.7% in 2020.
The IMF projects average annual inflation will pick up to 3.2% in 2019, before edging back to 3.1% in 2020. It sees the unemployment rate dropping to 3.5% in 2019, and to 3.4% in 2020.
The current account surplus is set to reach 0.5% of GDP in 2019, level with last year, before widening to 0.6% in 2020, according to the IMF report.
At the global level, the World Economic Outlook projects a slowdown in growth in 2019 for some 70% of the world economy. Global growth softened to 3.6% in 2018, and is projected to decline further to 3.3% in 2019. At the same time, after the weak start, growth is projected to pick up in the second half of the year, the IMF adds.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.