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IMF Lowers Hungary 2024 GDP Growth Forecast to 2.2%

Analysis

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The International Monetary Fund (IMF) projected Hungary's GDP would grow 2.2% this year in its latest World Economic Outlook released on Tuesday, according to state news wire MTI.

The forecast was lowered from 3.1% in the previous WEO published in October.

The IMF puts average annual inflation in Hungary at 3.7%, down from 17.1% in 2023. 

It projects a current account deficit equivalent to 0.2% of GDP for 2024.

The unemployment rate is set to reach 4.4%.

For 2025, the IMF puts GDP growth at 3.3% and average annual inflation at 3.5%. It sees the current account deficit widening to 0.3% of GDP.

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