wiiw Current Analyses and Forecasts
Hungary: Sliding into recession
in: Fasting or Feasting? Europe - Old and New - at the Crossroads
wiiw Current Analyses and Forecasts No. 10, July 2012 , pp. 66-70
Given the decline in both consumption and investments and in view of the budget consolidation measures already introduced or still in the pipeline, recession looms large in Hungary. Positive contribution of net exports has not been enough to sustain economic growth. The question as to when (if at all) the government will conclude an agreement on the financial assistance package with the IMF and the EU that the economy so badly needs is still open, as is the question whether the government will be prepared to adjust its (economic and other) policies to comply with the international community’s expectations.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Hungary, Visegrad countries