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Updated convergence program forecasts return of GDP growth in 2010

Hungary’s updated convergence program forecasts recovery of economic growth in 2010, when it expects GDP growth of 1.5% following recession in 2009, the internet portal index.hu said on Friday.  

The updated convergence program forecasts a further acceleration of GDP growth to 2.5% in 2011. Index referred to a draft of the updated convergence program to be presented to the EU commission later this month. Index cites an inflation forecast of 3.2% in 2010, down from a projected 4.5% next year. Inflation is forecast to fall further to 3.0% in 2011. The central bank projects annual average inflation of 3.1-3.4% for next year and of below 2% in 2010. (MTI-Eco)