The International Monetary Fund (IMF) has raised its projection for economic growth in Hungary this year to 2.7% from 2.3% predicted last October. In its latest World Economic Outlook, the fund said economic growth remained strong in Hungary but is expected to decline this year on account of lower investment growth and less supportive fiscal conditions. Private consumption is the key growth driver amid improving labour market conditions, it added. The IMF forecasts consumer prices will remain unchanged in 2015 and increase by 2.3% next year. Hungary, with output still below potential and persistent disinflationary pressures, had scope for further cautious monetary policy easing. Elevated public debt and high fiscal deficits, however, highlighted the need for fiscal consolidation, including reining in spending. For 2015 the IMF puts Hungary’s current-account surplus at 4.8% and unemployment rate at 7.6%. In the previous World Economic Outlook, the 2015 current-account surplus was projected at 2% and unemployment at 7.8%. For 2016 the IMF puts the current-account surplus at 4.1% and unemployment at 7.4%.