According to the IMF forecast, our economy is growing the fastest

In the Central and Eastern European region, Hungary and Poland will achieve the highest GDP growth this year, according to the World Economic Outlook (WEO) report published on Tuesday by the International Monetary Fund (IMF).

The economic growth of both countries will be lower than predicted in the organization's October forecast.

THE INTERNATIONAL MONETARY FUND CALCULATES THAT THE HUNGARIAN GROSS DOMESTIC PRODUCT (GDP) WILL GROW BY 3.7 PERCENT THIS YEAR AND BY 3.6 PERCENT NEXT.

In its October report, the IMF expected an increase of 5.1 percent for 2022 after last year's 7.1 percent expansion.

Inflation may accelerate to 10.3 percent this year after last year's 5.1 percent, compared to the 3.6 percent expected in October; next year, the pace is expected to slow to 6.4 percent.

The unemployment rate will increase from 4.1 percent last year to 4.3 percent this year, and will decrease to 4.2 percent by 2023.

According to the IMF's forecast, Poland will achieve economic growth of 3.7 percent this year, the same as Hungary's, after last year's 5.7 percent. In October, the IMF expected GDP growth of 5.1 percent for 2022. Next year, the growth of the Polish economy may slow down to 2.9 percent. In Poland, after last year's 5.1 percent, inflation may be 8.9 percent this year and 10.3 percent next year.

After last year's 3.5 percent, the unemployment rate may decrease to 3.2 percent this year and 3 percent next year.

CONCERNING UKRAINE, THE IMF ANNOUNCED THAT, ACCORDING TO ITS CURRENT ESTIMATES, THE GDP MAY SHRINK BY 35 PERCENT THIS YEAR, FOLLOWING LAST YEAR'S INCREASE OF 3.4 PERCENT; THE IMF DID NOT PROVIDE FORECASTS FOR ANY OTHER INDICATOR.

According to the IMF's forecast, after last year's 4.7 percent growth, Russia's GDP may decrease by 8.5 percent this year and by a further 2.3 percent in 2023. After last year's 6.7 percent, inflation may be 21.3 percent this year and 14.3 percent next year. Unemployment will increase from 4.8 percent last year to 9.3 percent this year, and the rate will decrease to 7.8 percent next year.

Source: Origo.hu

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