IMF lifts Hungaryʼs 2015 GDP growth forecast to 3%

Analysis

The International Monetary Fund raised its projection for economic growth in Hungary this year to 3.0% in its fresh World Economic Outlook published Tuesday from 2.7% forecast in April.

The projection is just under the governmentʼs official forecast for 3.1% growth.

The IMF projects Hungaryʼs GDP growth rate will slow to 2.5% in 2016. The forecast was raised from 2.3% in April.

The IMF forecasts consumer prices will edge up 0.3% this year. In April it expected CPI to be flat.

CPI is set to rise to 2.3% next year, according to the IMFʼs outlook, the same as the previous forecast.

Hungaryʼs current-account surplus is seen reaching 5.0% of GDP this year, up from 4.8% in the previous forecast. Next year, the surplus is expected to narrow to 4.3% of GDP, albeit not as far as the 4.1% the IMF projected in April.

The IMF projects Hungaryʼs unemployment rate will fall from 7.3% this year to 7.0% in 2016. In April, the IMF projected the unemployment rate would reach 7.6% this year and 7.4% next year.

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