Hungary: Staff Report for the 2015 Article IV Consultation

IMF Staff Country Reports, April 3, 2015

Source details

The Hungarian economy "is growing at a strong pace" supported by accommodative macroeconomic policies and improved market sentiment.
Output grew by 3.6 percent in 2014, driven by strong domestic demand.
Going forward, output growth is projected to decelerate to 2.75 percent in 2015, attributed to a smaller domestic-demand impetus owing to a less-supportive fiscal stance and lower investment growth.

Unemployment "declined sharply," reflecting the expansion of public works programs and job creation in the private sector.

Headline and core inflation "decelerated sharply."
Inflation expectations "fell below the National Bank of Hungary’s inflation target."

The macroeconomic environment during the assessment combined accommodative policies with improved market sentiment.
The projected deceleration in 2015 is linked explicitly to a less-supportive fiscal stance and lower investment growth.

Subject: Banking; Commercial banks; Expenditure; Financial institutions; Financial statements; Inflation; Loans; Prices; Public debt; Public financial management (PFM)
Keywords: CR; credit rating; Financial statements; Global; headline inflation; Inflation; inflation expectation; ISCR; liability positions vis-à-vis nonresident; Loans; short-term foreign currency; sovereign credit ratings; staff appraisal; Standard and Poor's; target
Publication details: Pages: 65; Volume: 2015; Issue: 092; Series: Country Report No. 2015/092; DOI: https://doi.org/10.5089/9781475546293.002; Stock No: 1HUNEA2015001; ISBN: 9781475546293; ISSN: 1934-7685
Publication date on landing page: April 3, 2015

Hungary: Staff Report for the 2015 Article IV Consultation (IMF Staff Country Reports 2015, 092).