Hungary: 2018 Article IV Consultation-Press Release and Staff Report

August 3, 2018

Preview Citation

Format: Chicago

Hungary: 2018 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2018) accessed December 21, 2024

Summary

This 2018 Article IV Consultation highlights that the headline inflation in Hungary has started to pick up, mainly owing to higher energy prices, while core inflation has been running sideways over the past six months, despite emerging capacity constraints. Unemployment remains on a decreasing trend, and labor shortages are intensifying despite the improvement in participation rates. The 2017 general government fiscal deficit narrowed to 2 percent of GDP, compared with the budgeted 2.4 percent. This outcome was mostly driven by strong GDP growth and reduced interest payments. The IMF staff projects the 2018 overall fiscal deficit at about 2.4 percent of GDP, in line with the budget’s target.

Subject: Balance of payments, Current account surpluses, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt

Keywords: Core inflation, CR, Current account surpluses, Deficit, Exchange rate arrangement, Fiscal stance, Global, Headline inflation, Holdings rate, Imported inflation, Inflation, ISCR, Liability positions vis-à-vis nonresident, MNB communication, Potential GDP

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/252
Stock No:

1HUNEA2018001
ISBN:

9781484372371
ISSN:

1934-7685

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