For Hungary, the most significant prediction among the report’s general conclusions is that for 2015 the IMF is expecting – thanks partly to declining oil prices and the appreciation of the US dollar – a general improvement of the global economy. The institution is also forecasting better performance in developed countries that are Hungary’s main trade partners, such as members of the Euro-zone.

Improving international economic environment is expected to bolster the external growth determinants of the Hungarian economy and improve the sustainability of Hungary’s current economic growth that has been high even in view of international standards.

The summary tables presenting macroeconomic data of IMF countries clearly show the achievements Hungary has reached over the past years regarding the development of Hungarian national economy and creating and maintaining external and internal balance. Concerning Hungary, in comparison to the prediction of October 2014 the IMF revised its economic growth estimate upward by 0.4 percentage points to 2.7 percent for 2015 and 2.3 percent for 2016.

In the opinion of the Ministry for National Economy (NGM), the sound growth structure of the Hungarian economy and favourable data ensure that expansion will remain steady at a high level over the coming years. This year’s growth is also expected to be well above the former NGM prognosis of 2.5 percent.

Conclusions of the report concerning Hungary are in line with the comments and recommendations made at the latest IMF annual consultation.

To read the whole report please visit:

http://www.imf.org/external/pubs/ft/weo/2015/01/index.htm

(Ministry for National Economy)