{
  "title": "Hungary: Economic Policies for Sustainable Growth",
  "publication": "Occasional Papers, February 12, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/hungary-economic-policies-for-sustainable-growth-2483",
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  "summary": "Economic developments in Hungary during 1995-97 illustrate one of the most remarkable cases of macroeconomic adjustment in Europe over the last decade. Several momentous steps in the integration of the Hungarian economy with the rest of Europe and the industrial countries community took place.",
  "sections": [
    {
      "heading": "Summary of main findings",
      "content": "- Economic developments in Hungary during 1995-97 illustrate one of the most remarkable cases of macroeconomic adjustment in Europe over the last decade.\n- Several momentous steps in the integration of the Hungarian economy with the rest of Europe and the industrial countries community took place:\n  - In May 1996, Hungary acceded to the OECD.\n  - In July 1997, it was invited to join NATO.\n  - In July 1997, the European Commission recommended that EU start membership talks in near future.\n- Reducing inflation, maintaining a sustainable external position, and allowing growth of the private sector will require the continuation of the prudent fiscal policies that have characterized 1995-97."
    },
    {
      "heading": "Major themes and analysis",
      "content": "- Macroeconomic adjustment:\n  - The period 1995-97 is characterized as a notable instance of macroeconomic adjustment in Europe.\n- Integration with international institutions:\n  - Accession to OECD (May 1996).\n  - Invitation to join NATO (July 1997).\n  - European Commission recommendation toward EU membership talks (July 1997).\n- Policy priorities:\n  - Continue prudent fiscal policies established in 1995-97 to:\n    - Reduce inflation.\n    - Maintain a sustainable external position.\n    - Allow private sector growth."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject: Balance of payments, Banking, Current account, Economic sectors, Expenditure, External debt, Inflation, Prices, Privatization\n- Keywords: Baltics, Central and Eastern Europe, Current account, deficit, Eastern Europe, enterprise, functioning market economy, Global, Inflation, inflation reduction, medium-term growth prospect, national bank of Hungary, OP, Privatization, transition economy, Western Europe\n\n---\n\n\nSource: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/hungary-economic-policies-for-sustainable-growth-2483"
    }
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    "Published: February 12, 1998",
    "Series: Occasional Papers",
    "DOI: https://doi.org/10.5089/9781557757098.084",
    "Economic developments in Hungary during 1995-97 illustrate one of the most remarkable cases of macroeconomic adjustment in Europe over the last decade.",
    "Several momentous steps in the integration of the Hungarian economy with the rest of Europe and the industrial countries community took place:",
    "Reducing inflation, maintaining a sustainable external position, and allowing growth of the private sector will require the continuation of the prudent fiscal policies that have characterized 1995-97.",
    "Macroeconomic adjustment:",
    "Integration with international institutions:",
    "Policy priorities:",
    "Subject: Balance of payments, Banking, Current account, Economic sectors, Expenditure, External debt, Inflation, Prices, Privatization",
    "Keywords: Baltics, Central and Eastern Europe, Current account, deficit, Eastern Europe, enterprise, functioning market economy, Global, Inflation, inflation reduction, medium-term growth prospect, national bank of Hungary, OP, Privatization, transition economy, Western Europe"
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