EBRD raises Hungary GDP growth forecast

The European Bank for Reconstruction and Development (EBRD) has raised its forecast for Hungarian economic growth this year to 3.7 percent from 3.3 percent in its previous estimate released in November. The EBRD economic outlook for Hungary published on Wednesday is below the government's target of 4 percent growth contained in its updated Convergence Programme, and it sees a slowdown to 2.9 percent in 2020.