Hungary: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 124

Publication date: May 2003

ISBN: 9781451817874

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , deficit , GDP , export volume growth , government , private sector employment , headline CPI inflation , data revision , import growth , current account , Wage adjustments , Wages , Inflation

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Summary

This 2003 Article IV Consultation for Hungary highlights that developments in growth and inflation were broadly positive in 2002. Buoyed by domestic demand, real GDP growth increased to 3.5 percent (year-over-year) in the second half of 2002 from 3.0 percent in the first half. Headline inflation declined from its recent peak of 10.8 percent in May of 2001 to 4.8 percent at end-2002. The external current account deficit widened in 2002, although foreign direct investment fell off sharply.