Hungary's convergence report envisages a 0.3 pct contraction in Hungary's GDP for 2010, GDP growth of 3.7 pct for 2011 and GDP growth of 3.8 pct for 2012, the Finance Ministry said on its website on January 29.
The government approved the report on January 27 and submitted it to the European Commission and Council on January 29 after informing the Economic Committee of the National Interest Coordination Council.
The report forecasts 4.1 pct inflation for 2010, 2.3 pct for 2011 and 2.6 pct for 2012.
The convergence program envisages an ESA budget deficit of 3.8 pct of GDP for this year, 2.8 pct for 2011 and 2.5 pct for 2012.
Hungary's gross national debt is projected to fall from this year's 79.0 pct of the GDP to 76.9 pct in 2011, and to 73.8 pct in 2012.
