IMF was in Hungary in November, here is what they said
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The International Monetary Fund acknowledged the results of the fiscal discipline exercised by the Hungarian government, in a concluding statement after an official staff visit to the country this month, the finance ministry said on Friday.
The IMF’s latest forecast puts Hungary’s GDP growth at around 5 percent for 2022, making it one of the fastest-growing economies in the region, the ministry said in a statement. It also projects that inflation could decelerate to single digits by the end of 2023, the ministry added. The budget deficit could fall to 3.5 percent of GDP next year, which would contribute to keeping debt on a downward path, the ministry cited the IMF as saying.
The IMF also acknowledged the government’s measures to ensure the security of the country’s gas supply, adding that diversification away from Russian gas will take time, the ministry said. Meanwhile, the National Bank of Hungary said the IMF had acknowledged that the central bank had responded to inflation appropriately by significantly tightening monetary policy since June 2021.