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Kopint-Tárki scraps growth forecast for 2010

Kopint-Tárki expects Hungary's economy to stagnate in 2010, the research institute said in fresh projections on Wednesday. The figure was lowered from 0%-1% growth in a projection in September.

The government projects a 0.6% fall in GDP next year.

Kopint-Tárki lowered its projection for annual average inflation to 3.7% from 5.5%.

The institute put the 2010 general government deficit at 4.3% of GDP, but it noted that the next government's fiscal policy is not yet known. (Hungary will hold general elections in the spring.) The deficit forecast is above the official target of 3.8% of GDP.

Kopint-Tárki put the average forint/euro exchange rate at 270 in 2010. It sees average three-month interest rates falling to 5.2% by end-2010. (MTI-Econews)