Hungary: Staff Report for the 2004 Article IV Consultation
IMF Staff Country Reports, May 24, 2004
Source details
- Canonical URL
- Hungary: Staff Report for the 2004 Article IV Consultation
Other formats
Bibliographic details
- Published: May 24, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451817881.002
Key findings and assessments
- Hungary’s entry into the European Union comes on the heels of impressive accomplishments.
- Successes were based on the long-lasting effects of significant structural reforms and privatization during the 1990s.
- Structural reforms and privatization facilitated:
- outward orientation,
- foreign direct investment inflows,
- strong export performance,
- flexible labor and product markets,
- a sound banking system.
- Success was also rooted in:
- undertaking macroeconomic adjustment measures when needed,
- maintaining an adequate level of international competitiveness.
Policy themes and issues covered
- Balance of payments
- Current account deficits
- Exchange rates
- External debt
- Fiscal consolidation
- Fiscal policy
- Foreign exchange
- Public debt
Keywords (as provided)
- CR
- Current account deficits
- deficit
- deficit target
- Exchange rates
- Fiscal consolidation
- GDP
- Global
- government
- ISCR
- policy credibility
- rationalizing government employment
- wage growth
- year-on-year headline CPI inflation