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Economic think tank GKI has lowered its projection for Hungary’s GDP growth to 2.0% from 2.7% for 2008, and to 0.5% from 3% for 2009, chairman András Vértes said on Monday.
The Hungarian economy will likely diverge from the path outlined in the country’s convergence program in 2008 and 2009 as the entire EU is put on a recession track, Vértes said. Though economic growth will practically stagnate and unemployment will grow, Hungary’s external and internal balance will improve, he added. (MTI-Econews)