IMF Cuts Hungary GDP Forecast

  • 11 Oct 2023 1:41 PM
  • Hungary Matters
IMF Cuts Hungary GDP Forecast
The International Monetary Fund (IMF) forecasts Hungary’s economy contracting by 0.3% this year.

Its latest World Economic Outlook released on Tuesday lowers its projection published in April from growth of 0.5%.

Hungary’s gross domestic product shrank by 1.7% in the first half of the year, Central Statistical Office (KSH) data show.

The government expects a turnaround in the third quarter.

The IMF expects average annual inflation in Hungary to be 17.7% this year, while the current account is expected to show a deficit of 0.9% of GDP.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports