Hungary: Staff Report for the 2015 Article IV Consultation

April 3, 2015

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Hungary: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 27, 2024

Summary

This 2015 Article IV Consultation highlights that the Hungarian economy is growing at a strong pace helped by accommodative macroeconomic policies and improved market sentiment. Driven by strong domestic demand, output grew by 3.6 percent in 2014. Unemployment declined sharply reflecting the expansion of public works programs and job creation in the private sector. Headline and core inflation decelerated sharply, and inflation expectations fell below the National Bank of Hungary’s inflation target. Going forward, output growth is projected to decelerate to 2.75 percent in 2015, on account of a smaller domestic-demand impetus owing to less-supportive fiscal stance and lower investment growth.

Subject: Banking, Commercial banks, Expenditure, Financial institutions, Financial statements, Inflation, Loans, Prices, Public debt, Public financial management (PFM)

Keywords: CR, Credit rating, Financial statements, Global, Headline inflation, Inflation, Inflation expectation, ISCR, Liability positions vis-à-vis nonresident, Loans, Short-term foreign currency, Sovereign credit ratings, Staff appraisal, Standard and Poor's, Target

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/092
Stock No:

1HUNEA2015001
ISBN:

9781475546293
ISSN:

1934-7685

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