The International Monetary Fund (IMF) raised its projection for Hungary’s GDP growth this year to 3.2 percent in its fresh World Economic Outlook released on Tuesday. The projection was raised from 2.9 percent in a forecast published in April. The IMF raised its forecast for GDP growth in 2018 to 3.4 percent from 3.0 percent. Hungary’s government projects GDP growth of 4.1 percent for 2017 and 4.3 percent for 2018.
The IMF projects consumer prices will rise by 2.5 percent in 2017 and 3.2 percent in 2018. It sees the unemployment rate falling to 4.4 percent this year and 4.3 percent next year.
The current account surplus is set to narrow to 4.8 percent of GDP in 2017 and 4.2 percent in 2018.
Republished with permission of Hungary Matters, MTI’s daily newsletter.