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GKI currently expects the Hungarian economy to decline by 5-7 per cent in 2020 (assuming no second wave of the pandemic this year). In March, shortly after the announcement of the coronavirus emergency, GKI forecast two scenarios: one with a 3 per cent and another with a 7 per cent decline in GDP this year. Interestingly, in recent months the Hungarian government and the IMF published forecasts close to GKI’s less pessimistic figure, whereas the EU and the OECD published forecasts with the more pessimistic variant.
