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IMF Cuts Hungary Growth Forecast

Analysis

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The International Monetary Fund (IMF) cut its forecast for Hungary's GDP growth this year to 0.5% in its latest World Economic Outlook released on Tuesday, according to a report by state news wire MTI.

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.

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