In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Table 1.

Hungary: Selected Economic Indicators, 1991–97

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Sources: Data provided by the authorities; IFS; and staff estimates.

The fiscal deficit in 1997 includes the cost of cleaning up the NBH balance sheet (about 1.5 percent of GDP); this has to be deducted to facilitate comparisons with 1996.

In 1993, includes imports of military equipment from Russia in lieu of outstanding claims by Hungary.

The figure for 1997 includes the cost of cleaning up the NBH balance sheet and additional hedging costs on external debt; the figures for both 1996 and 1997 are also adjusted for some items (mostly sale of assets) that should be regarded as financing items.

Overall balance, excluding interest expenditure and other debt charges. The figures for 1997 also exclude profit transfers from the NBH.

The growth rate for 1997 is relative to January 1, 1997.

The current account deficit is on a settlements basis and differs from the saving-investment balance which is on a national accounts basis.

May figures for 1997.

Table 2.

Hungary: Gross Domestic Product and Aggregate Demand, 1991–96 1/

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Sources: CSO; and data provided by the Hungarian authorities.

Based on the new System of National Accounts (SNA).

Household consumption, including social transfers in kind.

Government final consumption expenditure, excluding social transfers in kind by the government.

Includes in 1993 Ft 72 billion in imports of military equipment from Russia.

Table 3.

Hungary: Aggregate Demand—Real Growth and Implicit Deflators, 1991–96 1/

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Sources: CSO; and data provided by the Hungarian authorities.

Based on the new System of National Accounts (SNA).

Staff estimates.

Household consumption, including social transfers in kind.

Government final consumption expenditure, excluding social transfer in kind by the government.

Includes in 1993 Ft 72 billion imports of military equipment from Russia. Excluding these imports, real growth in collective consumption and imports was 4.0 percent and 11.1 percent, respectively, in 1993 and 3.5 percent and 17.7 percent in 1994.

Contribution to growth.

Table 4.

Hungary: Income Distribution by Factors of Production, 1991–95

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Sources: CSO; and Ministry of Finance.
Table 5.

Hungary: Gross Value Added by Sector, 1991–95 1/

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Source: CSO.

Based on the new System of National Accounts (SNA).

Table 6.

Hungary: Gross Value Added by Sector at Current Prices, 1991–95 1/

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Source: CSO.

Based on the new System of National Accounts (SNA).

Table 7.

Hungary: Sectoral Saving and Investment Balances, 1991–96 1/

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Sources: CSO; and Ministry of Finance.

Data based on the new System of National Accounts.

Excludes in 1993 imports of military equipment from Russia in lieu of outstanding claims by Hungary.

The nonfinancial balance is on a national accounts basis and differs from the current account in the balance of payments, which is on a settlement basis.

Table 8.

Hungary: Household Disposable Income, 1991–95

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Sources: CSO.

Deflated by the individual consumption deflator.

Ratio of saving and adjusted disposable income.

Table 9.

Hungary: Employment by Sector, 1993–96

(In thousands)

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Source: CSO, Labor Force Survey.

Excluding persons on child care leave.

Covers population between 15 and 74 years of age. Data are based on labor force survey for end period.

Table 10.

Hungary: Unemployment Indicators, 1991–96

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Sources: CSO, Statistical Yearbook and Monthly Bulletin of Statistics (various issues); and data provided by the authorities.

1/ By duration of job search, based on labor force survey for last quarter of the year. Until 1992, the data are not directly comparable and refer to less than 27 weeks, less than 55 and more than 27 weeks, and over 55 weeks, respectively.

Ratio of unemployed at end of the year to the labor force in January of the previous year.

Deflated by the consumer price index.

Table 11.

Hungary: Consumer Prices and Wages, 1991–96

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Sources: CSO, Monthly Bulletin of Statistics; and data provided by the Hungarian authorities.
Table 12.

Hungary: Producer Prices, 1992–96 1/

(Average annual percent change)

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Sources: CSO, Monthly Bulletin of Statistics; and data provided by the Hungarian authorities.

Domestic and foreign sales. Data are based on new industrial classifications and are not directly comparable to earlier years.

Table 13.

Hungary: Share of Administered Prices in CPI, 1992–97 1/

(Percentage points)

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Source: CSO.

Since 1992 index numbers have been calculated with fixed weighting throughout the year. The weights concerning the detailed groups of goods and services (l60) are based on the data of Household Budget Survey, adjusted in connection with the National Accounts.

The weights are changed annually, reflecting the previous year’s survey. In 1996 the weights correspond to the family expenditure structure of 1994.

The prices (consumer and producer) are free, but a price subsidy is administered.

Table 14.

Hungary: Revenues from Privatization, 1990–96

(In billions of forint)

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Source: State Privatization Agency.
Table 15.

Hungary: Divestiture of State Enterprises

(As of April 1997)

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Source: State Privatization Agency.
Table 16.

Hungary: Consolidated Central Government Accounts, 1991–97 1/

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Source: Ministry of Finance; and staff estimates.

Central budget, consolidated with social security funds, central-budgetary institutions, and extrabudgetary funds. Excludes in 1993 national revenues corresponding to the resolution of outstanding claims by Hungary related to the purchase of military aircraft from Russia. The 1997 figures include the cost of cleaning up the NBH balance sheet but exclude profit transfer from the NBH.

Table 17.

Hungary: State Budget Revenue, 1991–97

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Source: Ministry of Finance.