Hungary: Selected Issues

International Monetary Fund

No 2003/125, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper examines the external sector issues in Hungary. It looks at some traditional indicators of external competitiveness, and provides basic background on key macroeconomic developments, including the current account and its financing. The paper examines various measures of the real effective exchange rate, the labor market considerations, and actual export performance. The paper concludes that although external competitiveness of the Hungarian economy has not been permanently impaired and the country is doing well from various vantage points, a significant dent has been put in competitiveness.

Keywords: ISCR; CR; current account deficit; expenditure ceiling; wage bill; government spending; FDI inflow; central government; fiscal policy; labor market; output gap; depreciation rate; Current account deficits; Current account; Current account balance; Fiscal consolidation; Europe (search for similar items in EconPapers)
Pages: 67
Date: 2003-05-09
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