Facts & Statistics

IMF classifies Hungary as one of the most developed countries

Out of 195 economies, the IMF considers only 39 to be “advanced,” according to a Financial Times article discussed on local television.

Since the end of World War II, only 18 countries have been included in the “advanced” category, with the per capita incomes of the countries listed exceeding USD 17,000. In Hungary, this figure is close to USD 16,000.

According to the IMF’s latest World Economic Outlook, Hungary’s gross domestic product is expected to grow by 7.6 percent this year.

Minister of Finance Mihály Varga recently announced that, according to the IMF, Hungary may achieve the third highest economic growth in the European Union this year, well ahead of the EU average of 5.1 percent. Only Ireland and Estonia are forecasted to beat Hungary. The IMF expects a 13 percent increase in Ireland, while it sees the latter’s GDP growing by 8.5 percent.

According to the IMF, Slovakia’s economy could grow by 4.4 percent, the Czech Republic by 3.8 percent and Poland by 5.1 percent this year. Meanwhile, it expects the global economy to grow by 5.9 percent, slightly lower than forecasts at the beginning of the summer.

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