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Hungary

Author

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  • Daniel Bulin

Abstract

Hungarian economy grew in 2015 with a moderate rate which, although lower than last year, supported reducing the main macroeconomic imbalances faced by this country. Thus, must be noted, labor market recovery and reducing public debt. Other favourable aspects of the Hungarian economy evolution are relaunch of private consumption, export growth rate, superior to previous years, which led to increasing trade balance and also current account balance. In contrast, the risk of deflation, depreciation of the forint or deceleration of domestic demand, caused by the unfavorable evolution of public consumption and investments, are negative aspects of macroeconomic framework of Hungary. 2016 started with a fall in the Hungarian economy during the first quarter, but government measures, including - decrease of income tax rate, reduction of the VAT on newly built homes, loan guarantee programme for SME’S, would support a recovery and even an acceleration of the economy in 2017.

Suggested Citation

  • Daniel Bulin, 2016. "Hungary," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 126-131.
    • Handle: RePEc:iem:conjun:y:2016:p:126-131
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