Hungary: Economic Policies for Sustainable Growth
February 12, 1998
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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. In May 1996, Hungary acceded to the OECD; in July 1997, it was invited to join NATO; and in the same month, the European Commission recommended that EU start membership talks in near future. 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.
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
Pages:
108
Volume:
1998
DOI:
Issue:
003
Series:
Occasional Paper No. 1998/003
Stock No:
S159EA0000000
ISBN:
9781557757098
ISSN:
0251-6365
