World Economy

Hungary Progressing

Hungary ProgressingHungary Progressing

The Hungarian economy is performing ‘very well’ and its vulnerability to shocks has declined substantially, the IMF said in a report. Solid growth and a sharp reduction in unemployment are largely due to supportive macroeconomic policies, a favorable external environment and high utilization of EU funds, the International Monetary Fund said, NewsNow reported. Output growth is projected to moderate slightly this year owing to the expected deceleration in the uptake of EU funds. Headline inflation is expected to remain low on account of low import prices and slowly reach the 3% target as food and energy prices recover and the labor market tightens, the report said.