Hungary : 2018 Article IV Consultation-Press Release and Staff Report

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

August 3, 2018

Electronic Access:

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Summary:

Growth rebounded in 2017 and the first half of 2018 on the back of buoyant domestic demand due to the accelerated absorption of EU funds and strong disposable income. External debt declined substantially over the past few years and so did public debt, albeit much less. The policy stance remained highly procyclical, with a significant deterioration in the structural primary fiscal balance since 2015. At the same time, structural reforms are lagging and the external current account surplus has been moderating rapidly from its 2016 high peak. There has been some downward pressure on the forint (HUF) in the second quarter of 2018. The budget for 2019 is broadly cyclically neutral. The central bank (MNB) adjusted its communication, stressing its commitment to the inflation target and keeping all options open to achieve it.

Series:

Country Report No. 18/252

Subject:

English

Publication Date:

August 3, 2018

ISBN/ISSN:

9781484372371/1934-7685

Stock No:

1HUNEA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

62

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