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Századvég lowers GDP growth forecast for 2011 to 3.1%

Századvég has lowered its projection for Hungary's GDP growth this year to 3.1% from 3.3%, the economic research company said on Thursday.

The forecast is slightly over the government's projection of 3.0%.

Századvég sees GDP growth picking up to 3.6% in 2012.

The company puts average annual inflation in 2011 at 4.3%, slightly higher than the 4.2% forecast earlier. It projects CPI of 3.1% in 2012.

Hungary could run a general government surplus as high as 3.6% of GDP in 2011 because of assets transferred from private pension funds, Századvég said.