The World Bank raised its forecasts for Hungary’s GDP growth in 2018-2020 in its fresh biannual Global Economic Prospects report.
The World Bank raised the GDP growth forecast for this year to 4.1 percent from 3.8 percent in the previous report published in January. It raised the forecasts for 2019 and 2020 both by one-tenth of a percentage point to 3.2 percent and 3 percent, respectively.
Hungary’s government puts GDP growth at 4.3 percent this year. With the new forecasts, the World Bank’s analysts also acknowledge that Hungary’s economic policy is on the right track, after a number of international economic and financial institutions did the same, the finance ministry said in a statement after the report was released.