Front Matter

Front Matter

János Somogyi, and Anthony Boote
Published Date:
March 1991
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© 1991 International Monetary Fund

Library of Congress Cataloging-in-Publication Data

Boote, Anthony R.

Economic reform in Hungary since 1968 / by Anthony R. Boote and Janos Somogyi.

p. cm. — (Occasional paper, ISSN 0251-6365; 83)

“July 1991.”

ISBN 1-55775-216-8 : $10.00

1. Hungary—Economic policy—1968-1989. 2. Hungary—Economic policy—1989- 3. Finance—Hungary. I. Somogyi, Janos. II. Title. III. Series: Occasional paper (International Monetary Fund); no. 83.

HC270.28.B66 1991




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The following symbols have been used throughout this paper:

  • … to indicate that data are not available;

  • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

  • – between years or months (e.g., 1990-91 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

  • / between years (e.g., 1990/91) to indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to rounding.

The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


This paper is based on an internal report prepared in 1989 by Janos Somogyi. It has been revised and updated through March 1991 by Anthony R. Boote. Any opinions expressed are those of the authors and do not reflect the views of the Hungarian authorities (past or present), Executive Directors of the IMF, or IMF staff. The authors bear sole responsibility for any errors.

The authors gratefully acknowledge the assistance generously extended to them by the many officials with whom they worked during numerous visits to Budapest over the years. They would like to thank Gérard Bélanger, Balazs Horvath, George Kopits, Mark Lutz, and Tom Wolf for their valuable comments. Thanks are also due to the editor, David M. Cheney of the External Relations Department, to Valerie Asfour for assistance with charts, and to Patricia Emerson, Maria Lourdes Chuidian, and John Maynard for secretarial support.

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