IMF ups Hungary 2022 GDP growth forecast

The IMF has raised its forecast for Hungarian economic growth this year to 5.7 percent, though it expects growth to slow to 1.8 percent in 2023.

In its latest World Economic Outlook released on Tuesday, the International Monetary Fund upped its 2022 projection from its April forecast of 3.7 percent.

Annual inflation is expected to average 13.9 percent this year before easing to 13.3 percent in 2023, the report said, adding that the current-account deficit is projected at 6.7 percent of GDP this year before narrowing to 3 percent in 2023.

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