Hungary: Staff Report for the 2014 Article IV Consultation

June 6, 2014

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Hungary: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 22, 2024

Summary

This 2014 Article IV Consultation highlights that Hungary’s economy has emerged from the 2012 recession and posted 1.1 percent growth in 2013, mainly driven by government investment and consumption, and also net exports. Private demand—although strengthening on the back of accommodative monetary conditions and improved market confidence—remained weak, and credit to the retail and corporate sectors continued to contract, albeit at a slowing pace. Hungary’s medium-term growth prospects remain subdued, as private consumption is still hampered by the ongoing repair of households’ balance sheets; the weak business environment continues to weigh on private investment.

Subject: Banking, Credit, Expenditure, External debt, Financial institutions, Fiscal policy, Loans, Money, Public debt

Keywords: Control environment, CR, Credit, Credit squeeze, Financing, Global, Headline inflation, Hungary's economy, Inflation expectation, ISCR, Labor market condition, Largely not observed, Liability positions vis-à-vis nonresident, Loans, Monetary policy, Policy predictability, Policy recommendation, Risk perception, Support Hungary's advancement

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/155
Stock No:

1HUNEA2014001
ISBN:

9781498395069
ISSN:

1934-7685

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