The OECD expressed optimism regarding Hungary’s general government budget deficit: the institution predicts a shortfall of 2.3 percent for 2015 and 2.2 percent for 2016. They also forecast GDP growth of 3.0 percent for this year and 2.2 percent for next year.

Thus, revised data are already in line with former projections of the Ministry for National Economy, the European Commission and the IMF. The OECD also expects that the general government debt-to-GDP ratio will continue to decline to 76.2 percent in 2015 and to 75 percent in 2016. The current account surplus as percentage of GDP is also seen to improve and reach 5.4 percent this year and 5.6 percent next year.

These figures confirm that forecasts of the Government, the European Commission, the IMF, the OECD, major international think-tanks and market analysts have recently become similar.

(Ministry for National Economy)