IMF raises GDP forecast for Hungary to 4.3%

Analysis

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The International Monetary Fund (IMF) raised its forecast for GDP growth in Hungary this year to 4.3% in its latest World Economic Outlook, released yesterday, according to azuzlet.hu.

The forecast was raised from 3.9% in the previous outlook, published in mid-October. 

The IMF projects the economy of the Czech Republic will expand by 4.2% this year, forecasts 3.5% GDP growth for Poland and 4.7% for Slovakia. 

The IMF believes average annual inflation in Hungary will rise to 3.6% in 2021, still within the National Bank of Hungary's 3% +/- one percentage point mid-term target range. It forecasts the country will have a current-account deficit equivalent to 0.4% of GDP, and says the jobless rate will likely decline to 3.8%. 

For 2022, the IMF augurs a pickup in economic growth in Hungary to 5.9%.

 

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