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The European Bank for Reconstruction and Development (EBRD) said it projected a 2% economic contraction in Hungary in 2009.
The EBRD put average 2009 growth at 0.1% in the 30 countries where it has investments, down from 2.5% in the previous forecast in November. The bank lowered its 2009 economic growth forecasts because of “the prospects of a deepening recession in the developed world, and faster-than-expected slowing in economic activity in its region in the final months of 2008.” (MTI – Econews)