IMF Raises 2022 GDP Growth Forecast for Hungary

Analysis

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The International Monetary Fund (IMF) raised its forecast for Hungary's GDP growth this year to 5.7% in its latest World Economic Outlook released on Tuesday, according to a report by state news wire MTI.

The forecast was raised from 3.7% in the previous WEO published in April.

The fresh WEO forecasts GDP growth of 1.9% for the Czech Republic, 3.8% for Poland, and 1.8% for Slovakia.

IMF sees Hungary's GDP growth slowing to 1.8% in 2023.

The organization puts the annual average inflation in Hungary at 13.9% in 2022. It sees CPI edging down to 13.3% in 2023.

Hungary's current-account deficit is set to reach the equivalent of 6.7% of GDP this year before narrowing to 3% in 2023, the WEO shows.

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