Hungary: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Hungary
IMF Staff Country Reports, April 29, 2016
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- Hungary: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Hungary
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Bibliographic details
- Published: April 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475517927.002
Economic performance and drivers
- The Hungarian economy has been growing at a robust pace over the past few years.
- Growth was supported by:
- supportive macroeconomic policies,
- a favorable external environment,
- high utilization of European Union (EU) funds.
- Better-than-budgeted fiscal performance last year helped reduce the public debt ratio.
Labor market and inflation
- Unemployment declined sharply.
- Labor participation recorded a continuous rise.
- Inflationary pressures have remained subdued.
Near-term outlook and risks
- "2016 is not going to be very encouraging for Hungarian economy."
- Growth prospects remain subdued reflecting an adverse business climate.
- The balance of risks is tilted to the downside.
Subject and keywords (as listed)
- Subject: Banking, External debt, Inflation, Labor, Labor markets, Prices, Public debt
- Keywords: CR, economy, financing, financing needs, Global, headline inflation, holding, Inflation, inflation expectation, ISCR, Labor markets, lending, liability positions vis-à-vis nonresident, rate, self-financing program