IMF forecasts 0.2% growth in Hungary for 2013

Analysis

The International Monetary Fund (IMF) projects Hungary’s economy will grow 0.2% this year and 1.3% in 2014 in its fresh world ‘Economic Outlook’ published on Tuesday, state news agency MTI reported. 

The IMF raised the projections from 0% growth for 2013 and 1.2% for 2014 in the previous outlook published six months earlier, but the projections are still under the government’s forecasts for growth of 0.7% in 2013 and 2.0% in 2014.

The IMF said a more protracted recession in the euro zone was a “key risk” for countries with strong intra-European links, such as Hungary. It added that Hungary’s economy was helped by a better harvest this year. The IMF put Hungary’s unemployment rate at 11.3% in 2013 and 11.1% in 2014.

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