Are you sure?

Ecostat sees economic contraction slowing to 4% in Q4

Ecostat expects the contraction of Hungary's economy to slow to 4% in Q4 compared to the same period a year earlier, the economic research institute said in its latest projection on Thursday.

Hungary's GDP fell 7.1% in Q3. Ecostat expects GDP to fall by 6.3% for the full year, but sees the drop shrinking to 0.3% in 2010.

Ecostat said the government's 3.9%-of-GDP general government deficit target for 2009 is achievable. It puts the deficit for 2010 at 4%, slightly over the 3.8% government target.

Average annual inflation will fall to 3.8% in 2010 from 4.2% in 2009, according to Ecostat. (MTI-Econews)