IMF sees Hungary economy contracting 6.1 pc this year, rebounding expanding 3.9 pc in 2021

The International Monetary Fund (IMF) projects Hungary's economy will contract by 6.1 percent this year, but rebounding and expanding by 3.9 percent in 2021, in its latest World Economic Outlook released on Tuesday. The forecast was lowered from a 3.1 percent contraction, but raised to a 4.2 percent expansion in the previous WEO released in mid-April, shortly after the country went into pandemic lockdown. Hungary's finance ministry earlier projected a 5-6 percent decline in GDP for this year.