May 25, 2009

Hungary’s 2009 GDP to drop 6.7 pct

The Hungarian National Bank forecasts the country's gross domestic product will decline 6.7 percent for all 2009, revised figures showed Monday.

The central bank's earlier report estimated the GDP would drop 3.5 percent this year, the Hungarian news agency MTI reported.

The bank's projection see the annual inflation rate of 4.5 percent in 2009, instead of an earlier estimate of 4.2 percent.

In 2010, Hungary's economy is to drop 0.9 percent and its annual inflation will amount to 4.3 percent.