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Hungary: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Hungary
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 107
Language:
English
Publication Date:
29 Apr 2016
DOI:
https://doi.org/10.5089/9781475517927.002
ISBN:
9781475517927
ISSN:
1934-7685
Pages:
79
Keywords:
ISCR; CR; economy; financing; rate; lending; holding; headline inflation; self-financing program; liability positions vis-à-vis nonresident; inflation expectation; financing needs; Inflation; Labor markets; Global
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This paper discusses backgrounds and recent developments in the economy of Hungary. The Hungarian economy has been growing at a robust pace over the past few years helped by supportive macroeconomic policies, a favorable external environment, and high utilization of European Union (EU) funds. Unemployment declined sharply, amid a continuous rise in labor participation. Inflationary pressures have remained subdued. Better-than-budgeted fiscal performance last year helped reduce the public debt ratio. But 2016 is not going to be very encouraging for Hungarian economy. Growth prospects remain subdued reflecting an adverse business climate. The balance of risks is tilted to the downside.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund