Hungary: Recent Economic Developments and Background Issues
May 10, 1995
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This paper reviews economic developments in Hungary during 1993–94. The downward trend in measured aggregate output that had begun in 1990 reached its trough during 1993, and Hungary recorded its first positive GDP growth in five years in 1994. At the same time, progress with respect to inflation remained slow and the annual increase in consumer prices, after some decline early in the year, stood at about 21 percent at end-1994, little changed from 1993. Overall, macroeconomic developments in Hungary during 1993–94 were overshadowed by large fiscal and external imbalances.
Subject: Banking, Commercial banks, Expenditure, Financial institutions, Income, Labor, National accounts, Personal income, Wages
Keywords: bank loan, Commercial banks, CR, debt service, Europe, exchange rate, foreign exchange, gross domestic product, Income, ISCR, minimum wage, national bank, personal income, Personal income, sick pay, trading partner, U.S. dollar, Wages, Western Europe, withholding tax
Pages:
190
Volume:
1995
DOI:
Issue:
035
Series:
Country Report No. 1995/035
Stock No:
1HUNEA0011995
ISBN:
9781451817812
ISSN:
1934-7685
Notes
This report on recent economic developments and background issues in Hungary was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
