Hungary: Staff Report for the 2002 Article IV Consultation

International Monetary Fund

No 2002/111, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2002 Article IV Consultation highlights that although economic growth of Hungary slowed in 2001, the economy showed considerable resilience to the weaker external environment. GDP growth was a still respectable 3.8 percent, down from 5.2 percent in 2000 but higher than most other countries in the region. Although export growth decelerated as the year progressed, it nevertheless outpaced growth in Hungary’s export markets. Domestic demand was partly supported by buoyant private consumption on the back of strong real wage gains. Meanwhile, the unemployment rate edged down to 5.6 percent by the start of 2002.

Keywords: ISCR; CR; deficit; fuel price inflation; inflation target range; GDP; deficit target; financial system; inflation expectation; monetary policy; Inflation; Inflation targeting; Government debt management; Global; Western Europe (search for similar items in EconPapers)
Pages: 43
Date: 2002-06-05
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