Hungary: Staff Report for the 2005 Article IV Consultation

International Monetary Fund

No 2005/213, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2005 Article IV Consultation highlights that Hungary’s economy achieved valuable gains in 2004 with GDP growth recovering to 4 percent. The growth was supported by strong investment and robust export growth. Consumption slowed in response to rising unemployment, a moderation in wage growth and a tightening of the housing subsidy scheme. Despite these favorable developments, risks associated with the twin deficits remained. Although some fiscal consolidation has taken place, the twice upward-revised fiscal deficit target was not met.

Keywords: ISCR; CR; deficit; GDP; Standard and Poor's; staff projection; revenue shortfall; staff appraisal; staff statement; consumer confidence confidence index; Current account deficits; Inflation; Government debt management (search for similar items in EconPapers)
Pages: 54
Date: 2005-06-29
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