March 11, 2020 / 6:23 AM / 17 days ago

Hungary's economy could even stagnate under worst case scenario - minister

BUDAPEST, March 11 (Reuters) - Hungary’s economy could stagnate or even contract slightly this year under the worst case scenario if the global impacts from the coronavirus outbreak deepen and last long, Finance Minister Mihaly Varga said late on Tuesday.

“We reckon with scenarios between -0.3% and plus 3.7% (in terms of economic growth),” Varga told local Inforadio.

He said if everything got back to normal in the global economy soon, then Hungary’s economy could expand by 3.5% to 4% this year. Varga also said that inflation was expected to decline as oil prices have plunged.

Reporting by Krisztina Than Editing by Shri Navaratnam

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