Buch(elektronisch)2014

Hungary

In: IMF Staff Country Reports v.Country Report No. 14/155

European Dept., International Monetary Fund

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Abstract

This 2014 Article IV Consultation highlights that Hungaryâ??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 demandâ??although strengthening on the back of accommodative monetary conditions and improved market confidenceâ??remained weak, and credit to the retail and corporate sectors continued to contract, albeit at a slowing pace. Hungaryâ??s medium-term growth prospects remain subdued, as private consumption is still hampered by the ongoing repair of householdsâ?? balance

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Buch(elektronisch)#12014

Hungary

In: IMF Staff Country Reports v.Country Report No. 14/156

European Dept., International Monetary Fund

This Selected Issues paper assesses recent trends in Hungaryâ??s potential growth and medium-term growth prospects. It analyzes to what extent the recent moderation of GDP growth reflects structural factors. The paper lays out some stylized facts about the Hungarian economy that could explain the growth slowdown observed in recent years. It provides estimates of potential growth using various methods, identifies the sources of the growth slowdown, and offers forecasts of potential growth over the medium-term under the baseline scenario. A model-based approach is also employed to estimate poten