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Hungary: 2022 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 2023: Issue 070
Language:
English
Publication Date:
03 Feb 2023
DOI:
https://doi.org/10.5089/9798400228865.002
ISBN:
9798400228865
ISSN:
1934-7685
Pages:
63
Keywords:
Policy recommendation; monetary policy mix; liability positions vis-à-vis nonresident; monetary policy transmission; inflation expectation; money market rate; reducing inflation; EU funds; Policy discussion; Inflation; Energy prices; Current account deficits; Fiscal stance; Global; Europe
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While the economy was recovering from the COVID-crisis, a succession of shocks and loose fiscal policy intensified inflation and fueled a large external deficit. Appropriately, the central bank significantly tightened monetary policy and the government plans a large fiscal adjustment. However, regulatory measures undermine the tighter fiscal and monetary policy mix. Growth is expected to slow sharply with still-elevated inflation and sizable risks can worsen the outlook.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2023: Issue 070