%PDF-1.4
%
1 0 obj
<<
/Title (wiiw Current Analyses and Forecasts 3: Hungary: the home-made and the imported crisis)
/Author (Sandor Richter)
/Creator (PScript5.dll Version 5.2.2)
/ModDate (D:20150817141931+02'00')
/Subject (Hungary: the home-made and the imported crisis)
/Producer (Acrobat Distiller 5.0 \(Windows\))
/CreationDate (D:20090304100327+02'00')
/PXCViewerInfo (PDF-XChange Viewer;2.5.214.2;Feb 17 2014;20:31:41;D:20150817141931+02'00')
>>
endobj
2 0 obj
<<
/JT 3 0 R
/Type /Catalog
/Pages 4 0 R
/Metadata 5 0 R
/PageLabels 6 0 R
>>
endobj
3 0 obj
<<
/A [7 0 R]
/V 1.10001
/Cn [8 0 R]
>>
endobj
4 0 obj
<<
/Kids [9 0 R 10 0 R 11 0 R 12 0 R]
/Type /Pages
/Count 4
/MediaBox [0 0 595 842]
>>
endobj
5 0 obj
<<
/Type /Metadata
/Length 3377
/Subtype /XML
>>
stream
Acrobat Distiller 5.0 (Windows)
2009-03-04T11:03:27+02:00
2015-08-17T14:19:31+02:00
2009-03-04T09:03:27Z
PScript5.dll Version 5.2.2
Sandor Richter
wiiw Current Analyses and Forecasts 3: Hungary: the home-made and the imported crisis
application/pdf
Hungary: the home-made and the imported crisis
endstream
endobj
6 0 obj
<<
/Nums [0 13 0 R]
>>
endobj
7 0 obj
<<
/Dt (D:20090304100328)
/JTM (Distiller)
>>
endobj
8 0 obj
<<
/D [14 0 R]
/MS 15 0 R
/Type /JobTicketContents
>>
endobj
9 0 obj
<<
/Type /Page
/Thumb 16 0 R
/Parent 4 0 R
/Contents 17 0 R
/Resources 18 0 R
>>
endobj
10 0 obj
<<
/Type /Page
/Thumb 19 0 R
/Parent 4 0 R
/Contents 20 0 R
/Resources 21 0 R
>>
endobj
11 0 obj
<<
/Type /Page
/Thumb 22 0 R
/Parent 4 0 R
/Contents 23 0 R
/Resources 24 0 R
>>
endobj
12 0 obj
<<
/Type /Page
/Thumb 25 0 R
/Parent 4 0 R
/Contents 26 0 R
/Resources 27 0 R
>>
endobj
13 0 obj
<<
/S /D
>>
endobj
14 0 obj
<<
/P [28 0 R]
/Fi [29 0 R]
>>
endobj
15 0 obj
<<
/Me 30 0 R
>>
endobj
16 0 obj
<<
/Width 74
/Filter [/ASCII85Decode /FlateDecode]
/Height 105
/Length 313
/ColorSpace 31 0 R
/BitsPerComponent 8
>>
stream
8;Z]"CCZ"?%"u/%pY#F_T=Ibta]0**AgQ_SV(C3MO,/jYEEXhAO^\/"pZndZ"G@S-d4CT'#sT(q`\E'S/ABV(TT!!nL0',Z8q6Y1aa.
DYL5@+[2.ZVU]p@6Pm9S/hID>gbo(L^@)t=@@[;XNMJ%4_p#':g=W+u%-Y9/Du]@/
*#Mt^JW[2t0h/ER)NDQ]Qi[F,N&D5Og=<>8@iXq
endstream
endobj
17 0 obj
<<
/Length 11913
>>
stream
BT
/TT2 1 Tf
10.98 0 0 10.98 88.38 780.1403 Tm
/Cs6 cs 0.66 0.668 0.68 scn
/GS1 gs
0 Tc
0 Tw
( )Tj
/TT4 1 Tf
13.98 0 0 13.98 233.94 780.7403 Tm
0 0 0 scn
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 419.7 783.5603 Tm
0.66 0.668 0.68 scn
( )Tj
10.02 0 0 10.02 82.98 768.3803 Tm
0 0 0 scn
0.0003 Tc
-0.0027 Tw
[(The ne)17.5(w)-24.3( )6(EU )6(member sta)5.6(t)4(es )-21311.4(Coun)6.4(tr)-5.8(y)17.5( reports)]TJ
ET
0.754 0.754 0.754 scn
82.26 763.16 151.68 -0.48 re
f
233.22 763.16 277.14 -0.48 re
f
BT
/TT6 1 Tf
10.02 0 0 10.02 85.08 753.5003 Tm
0 0 0 scn
0 Tc
0 Tw
( )Tj
0 -1.1437 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -61.8922 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 504.24 73.2803 Tm
0.754 0.754 0.754 scn
(1)Tj
/TT6 1 Tf
7.98 0 0 7.98 510.36 73.2803 Tm
0 0 0 scn
( )Tj
ET
0.754 0.754 0.754 scn
83.58 85.04 428.28 -0.48 re
f
q
1 i
85.26 727.82 105.9 -96.12 re
W* n
q
109.44 0 0 96.06 85.02 631.7003 cm
/Im1 Do
Q
Q
BT
/TT8 1 Tf
13.98 0 0 13.98 196.86 716.3003 Tm
0 0 0 scn
-0.0345 Tc
0.0013 Tw
(Sndor Richter )Tj
/TT2 1 Tf
16.02 0 0 16.02 202.5 680.5403 Tm
0.137 0.121 0.125 scn
-0.0008 Tc
0 Tw
(Hungary: )Tj
13.98 0 0 13.98 202.5 663.9803 Tm
0.0009 Tc
0.0002 Tw
(the home-made and the imported crisis )Tj
ET
0.602 0.602 0.602 scn
84.84 728.18 0.48 -0.48 re
f
84.84 728.18 106.86 -0.48 re
f
191.22 728.18 0.48 -0.48 re
f
84.84 727.7 0.48 -96.54 re
f
84.84 631.64 106.38 -0.48 re
f
191.22 727.7 0.48 -96.54 re
f
191.22 631.64 0.48 -0.48 re
f
BT
/TT8 1 Tf
13.98 0 0 13.98 85.08 619.7603 Tm
0 0 0 scn
0 Tc
0 Tw
( )Tj
/TT4 1 Tf
10.02 0 0 10.02 85.08 593.1803 Tm
-0.0195 Tc
0.071 Tw
[(After years)-4.5( )6(of)6.8( lax fisc)-4.5(al )6(po)]TJ
11.2395 0 TD
-0.02 Tc
0.0715 Tw
[(lic)-5(y)1( from mid-2001 to mid-2006, )6(a pe)]TJ
15.9281 0 TD
-0.0212 Tc
0.0727 Tw
[(riod of painf)5.1(ul correc)-6.2(tions)-6.2( has)-6.2( s)-6.2(i)3.4(nce )]TJ
-27.1677 -1.4012 TD
-0.0188 Tc
0.1661 Tw
[(set )-6(i)5.8(n)-1.6(. )-6(In )-6(t)7.5(h)4.4(e fram)5.8(e)4.4(w)-3.2(o)4.4(r)2.8(k of)7.5( )-6(an a)4.4(u)4.4(s)-3.8(te)4.4(rity pa)4.4(cka)4.4(ge, )-6(t)7.5(h)4.4(e Hun)4.4(g)4.4(a)-1.6(ria)4.4(n)-1.6( ge)4.4(ne)4.4(ral gov)8.1(e)4.4(r)2.8(n)4.4(m)-0.2(e)4.4(n)-1.6(t )-6(d)4.4(e)-1.6(fi)5.8(cit wa)4.4(s)-9.8( )]TJ
0 -1.3952 TD
-0.0224 Tc
0.0619 Tw
[(r)-6.8(educ)-7.4(ed )-6(from o)-5.2(v)-1.4(er )-6(10)-5.2(% o)-5.2(f)3.9( )-6(th)-5.2(e )-6(GDP )-6(to)-5.2( b)-5.2(e)0.8(low)-6.8( 4)-5.2(%)4.5( )-6(b)-5.2(y)4.5( s)-7.4(u)0.8(mme)-5.2(r)-0.8( 2)-5.2(008)-5.2(. As )-6(a c)-7.4(onse)-5.2(que)-5.2(nce)-5.2( o)-5.2(f)3.9( s)-7.4(h)0.8(r)-6.8(i)2.2(nking)-5.2( )]TJ
T*
-0.0181 Tc
0.0876 Tw
[(do)5.1(me)5.1(st)8.2(i)6.5(c)-3.1( d)5.1(e)5.1(m)6.5(an)5.1(d, )6(e)5.1(c)-3.1(o)5.1(n)5.1(o)-0.9(mi)6.5(c )6(gro)5.1(w)-2.5(t)8.2(h)-0.9( d)5.1(e)5.1(c)2.9(el)6.5(erat)8.2(ed t)8.2(o)-0.9( )6(ab)5.1(out )6(1% i)6.5(n)-0.9( )6(20)5.1(0)5.1(7)-0.9(; h)5.1(o)5.1(w)3.5(eve)5.1(r)-2.5(, )6(G)5.2(D)-2.5(P d)5.1(a)-0.9(t)8.2(a)-0.9( fo)5.1(r )6(the)5.1( )]TJ
0 -1.4012 TD
-0.018 Tc
0.1773 Tw
[(first t)8.3(w)-2.4(o )6(qu)5.2(a)5.2(r)-2.4(t)8.3(e)-0.8(rs )6(of 2)5.2(0)-0.8(0)5.2(8)-0.8( a)5.2(l)0.6(rea)5.2(d)-0.8(y h)5.2(i)0.6(nt)8.3(e)5.2(d)-0.8( at a)5.2(n)-0.8( in)5.2(ci)6.6(pi)6.6(e)5.2(n)5.2(t)2.3( upt)8.3(urn i)6.6(n)-0.8( g)5.2(r)3.6(o)5.2(w)-2.4(th. T)6(h)5.2(o)5.2(s)-3(e )6(an)5.2(d ot)8.3(h)5.2(e)-0.8(r )6(dat)8.3(a )]TJ
0 -1.3952 TD
-0.0225 Tc
0.0201 Tw
[(su)-5.3(gges)-7.5(ted)-5.3( th)-5.3(at th)-5.3(e)-5.3( )6(Hun)-5.3(gar)-6.9(ian)-5.3( econ)-5.3(omy had)-5.3( ma)-5.3(nag)-5.3(ed)-5.3( to p)-5.3(u)0.7(ll th)-5.3(rou)-5.3(g)0.7(h)-5.3( th)-5.3(e)-5.3( )6(most pa)-5.3(in)-5.3(fu)-5.3(l )6(s)-7.5(t)3.8(a)-5.3(g)0.7(e)-5.3( )6(o)-5.3(f)-2.2( fisca)-5.3(l )]TJ
T*
-0.0222 Tc
0.2713 Tw
[(a)-5(d)1(jus)-7.2(t)4.1(men)-5(t. )6(Rec)-7.2(o)-5(ver)-6.6(y)-1.2(, howe)-5(v)-1.2(er)-6.6(, )6(was)-7.2( ru)-5(de)-5(ly in)-5(ter)-6.6(r)-0.6(upte)-5(d)-5( )6(b)-5(y)-1.2( the)-5( inter)-6.6(n)1(a)-5(t)-1.9(io)-5(na)-5(l fina)-5(ncial cris)-7.2(is)-7.2( las)-7.2(t)-1.9( )]TJ
0 -1.4012 TD
-0.0183 Tc
-0.002 Tw
[(aut)8(um)6.3(n. )6(De)4.9(sp)4.9(ite th)4.9(e p)4.9(r)3.3(og)4.9(re)4.9(ss )6(Hu)4.9(n)4.9(g)-1.1(a)4.9(r)-2.7(y h)4.9(a)4.9(d)-1.1( a)4.9(c)2.7(hi)6.3(eve)4.9(d)-1.1( in )6(curbi)6.3(n)4.9(g fi)6.3(sca)4.9(l)0.3( def)8(i)6.3(c)-3.3(it)8(s i)6.3(n)-1.1( b)4.9(o)-1.1(th)4.9( 20)4.9(07 )6(an)4.9(d 2)4.9(0)4.9(08,)8( )]TJ
0 -1.3952 TD
-0.0179 Tc
0.0095 Tw
[(the )6(cou)5.3(n)-0.7(t)8.4(r)-2.3(y)6.7(s i)6.7(m)0.7(a)5.3(ge )6(a)5.3(s)-2.9( o)5.3(ne )6(of th)5.3(e mo)5.3(st v)9(u)5.3(ln)5.3(era)5.3(b)-0.7(l)6.7(e)-0.7( em)6.7(e)5.3(r)3.7(gi)6.7(ng m)6.7(a)5.3(rket )6(e)5.3(c)3.1(on)5.3(om)6.7(ie)5.3(s )6(ha)5.3(s pe)5.3(rsi)6.7(s)-2.9(t)8.4(ed. I)8.4(n)-0.7( the )]TJ
T*
-0.021 Tc
0.1563 Tw
[(middle )5.9(of Oc)-6(t)5.3(o)-3.8(ber)-5.4( 2008, )5.9(amids)-6(t)-0.7( t)5.3(h)2.2(e enor)-5.4(mous)-6( vola)]TJ
22.497 0 TD
-0.0198 Tc
0.1551 Tw
[(t)6.5(ilit)6.5(y surrounding the f)6.5(o)3.4(r)-4.2(i)4.8(nt ex)7.1(change )5.9(rate, )6(the )]TJ
-22.497 -1.4012 TD
-0.0186 Tc
-0.0077 Tw
[(ma)4.6(rket )-6(fo)4.6(r Hu)4.6(ng)4.6(a)4.6(r)-3(i)6(an gov)8.3(e)4.6(r)3(nm)6(ent b)4.6(o)-1.4(n)4.6(d)4.6(s)-3.6( drie)4.6(d up de)4.6(spi)6(t)1.7(e )-6(th)4.6(e sky-ro)4.6(cketi)6(ng )-6(yi)6(el)6(d)4.6(s)-3.6( )-6(o)4.6(ffe)4.6(re)4.6(d. )-6(Sov)8.3(e)4.6(re)4.6(ig)4.6(n )]TJ
0 -1.3952 TD
0.2558 Tw
[(CDS )5.9(sp)4.5(rea)4.5(d)4.5(s)2.3( ro)4.5(se sh)4.5(arply)8.2(.)1.6( Owin)4.5(g to th)4.5(e d)4.5(e)-1.5(p)4.5(e)-1.5(n)4.5(d)4.5(e)-1.5(n)4.5(c)2.3(e of th)4.5(e Hu)4.5(n)4.5(g)-1.5(a)4.5(r)-3.1(i)5.9(a)4.5(n e)4.5(c)2.3(on)4.5(o)4.5(m)-0.1(y on )5.9(exte)4.5(rn)4.5(al)5.9( )]TJ
T*
-0.0182 Tc
0.0158 Tw
[(fin)5(a)-1(n)5(c)2.8(in)5(g to )6(ro)5(llov)8.7(e)5(r it)8.1(s h)5(u)5(g)-1(e)5( de)5(bt \(p)5(ub)5(li)6.4(c a)5(nd )6(p)5(r)-2.6(iv)8.7(ate )6(ext)8.1(e)-1(rn)5(al )6(de)5(bt a)5(m)6.4(ou)5(nt)8.1(ed t)8.1(o)-1( 1)5(1)-1(4)5(%)2.7( of th)5(e G)5.1(D)-2.6(P)8.1( at )]TJ
0 -1.4012 TD
-0.0184 Tc
0.0699 Tw
[(en)4.8(d)4.8(-)-2.8(S)7.9(ept)7.9(em)6.2(b)4.8(e)-1.2(r 2)4.8(0)4.8(0)-1.2(8)4.8(\))-2.8(,)7.9( th)4.8(e t)7.9(h)-1.2(re)4.8(at )6(of i)6.2(n)4.8(solv)8.5(en)4.8(cy)8.5( l)6.2(o)-1.2(o)4.8(m)0.2(e)4.8(d)-1.2( )6(l)6.2(a)-1.2(rg)4.8(e. It )6(wa)4.8(s )6(o)4.8(n)-1.2(ly )6(av)8.5(ert)7.9(e)4.8(d )6(wi)6.2(th t)7.9(h)-1.2(e)4.8( h)4.8(e)-1.2(l)6.2(p)-1.2( )6(of )6(a )]TJ
0 -1.3952 TD
-0.018 Tc
0.0156 Tw
[(EUR 2)5.2(0)-0.8( bi)6.6(lli)6.6(o)5.2(n)5.2( fina)5.2(n)5.2(c)-3(i)6.6(a)-0.8(l p)5.2(a)5.2(ckag)5.2(e)-0.8( \(E)8.3(UR )6(12.)8.3(5 bil)6.6(l)0.6(i)6.6(on )6(st)8.3(an)5.2(d)5.2(-)-2.4(by )6(ag)5.2(ree)5.2(m)6.6(en)5.2(t wit)8.3(h)-0.8( the IM)6.6(F,)8.3( EUR 6.5 )6(bil)6.6(l)0.6(i)6.6(o)5.2(n)-6.8( )]TJ
T*
-0.0181 Tc
-0.0022 Tw
[(from t)8.2(he )6(Eu)5.1(ro)5.1(pe)5.1(a)5.1(n)-0.9( )6(Un)5.1(io)5.1(n )6(\(E)8.2(U\) a)5.1(n)5.1(d)-0.9( E)8.2(U)3.5(R )6(1)5.1( bil)6.5(l)0.5(i)6.5(on f)8.2(r)3.5(om t)8.2(h)5.1(e )6(Wo)5.1(rl)6.5(d B)8.2(a)5.1(n)5.1(k)-3.1(\). )]TJ
0 -1.4012 TD
0 Tc
0 Tw
( )Tj
0 -1.3952 TD
-0.0224 Tc
0.032 Tw
[(T)-4.4(h)0.8(e)-5.2( ma)-5.2(in)-5.2( cond)-5.2(ition)-5.2(a)0.8(lity o)-5.2(f)-2.1( the)-5.2( s)-7.4(t)3.9(an)-5.2(d-b)-5.2(y)-1.4( agr)-6.8(eemen)-5.2(t is)-7.4( the r)-6.8(educ)-7.4(tion)-5.2( )6(o)-5.2(f)-2.1( th)-5.2(e)-5.2( )6(g)-5.2(ene)-5.2(ra)-5.2(l )6(g)-5.2(o)0.8(ve)-5.2(rnmen)-5.2(t)-2.1( de)-5.2(fic)-7.4(i)-3.8(t )]TJ
T*
-0.0185 Tc
0.1538 Tw
[(from a)4.7(b)-1.3(o)4.7(u)-1.3(t 3.)7.8(4% of G)4.8(D)-2.9(P i)6.1(n)-1.3( 20)4.7(0)4.7(8)-1.3( )-6(t)7.8(o)-1.3( 2.6)4.7(%)2.4( )-6(in)4.7( 20)4.7(09.)7.8( )-6(T)5.5(h)-1.3(e)4.7( )-6(a)4.7(ssum)6.1(p)-1.3(ti)6.1(o)4.7(n)4.7(s)-3.5( )-6(i)6.1(n)-1.3( )-6(t)7.8(h)4.7(e st)7.8(a)4.7(n)-1.3(d)4.7(-)3.1(by ag)4.7(re)4.7(em)6.1(ent)7.8( )]TJ
0 -1.4012 TD
-0.0229 Tc
0.0864 Tw
[(r)-7.3(e)0.3(la)-5.7(ting)-5.7( to)-5.7( th)-5.7(e macro)-5.7(e)0.3(con)-5.7(o)0.3(mic)-7.9( fr)-7.3(amew)-7.3(ork)-7.9( )6(ar)-7.3(e)-5.7(:)-2.6( )6(0)-5.7(.)3.4(9)-5.7(%)-2( )6(co)-5.7(n)-5.7(t)3.4(rac)-7.9(t)-2.6(io)-5.7(n o)-5.7(f)-2.6( th)-5.7(e)-5.7( )6(GD)-7.3(P, )6(4)-5.7(.)3.4(5% an)-5.7(nu)-5.7(al )6(a)-5.7(v)-1.9(er)-7.3(age )]TJ
0 -1.3952 TD
-0.0225 Tc
0.1339 Tw
[(co)-5.3(nsu)-5.3(m)2.1(er)-6.9( )6(p)-5.3(r)-0.9(ice)-5.3( in)-5.3(fla)-5.3(t)-2.2(io)-5.3(n)-5.3( )6(and)-5.3( a)-5.3( )6(decr)-6.9(ease o)-5.3(f)-2.2( mor)-6.9(e)0.7( than 4)-5.3( )131.7(perce)-5.3(n)-5.3(t)3.8(a)-5.3(ge p)-5.3(o)0.7(in)-5.3(ts)-7.5( )6(in)-5.3( )6(the cur)-6.9(r)-0.9(en)-5.3(t accou)-5.3(n)-5.3(t)-8.1( )]TJ
T*
-0.0185 Tc
0.1119 Tw
[(def)7.8(i)6.1(c)-3.5(it )6(co)4.7(m)6.1(p)-1.3(a)4.7(r)3.1(ed t)7.8(o)-1.3( 2)4.7(0)-1.3(0)4.7(8)-1.3(. It)7.8( is a)4.7(l)6.1(so )6(a)4.7(ssu)4.7(me)4.7(d th)4.7(at b)4.7(o)-1.3(t)7.8(h)4.7( exte)4.7(rna)4.7(l)0.1( b)4.7(o)-1.3(rro)4.7(wi)6.1(ng )6(by th)4.7(e )6(gov)8.4(e)4.7(r)-2.9(n)4.7(m)6.1(ent )6(a)4.7(n)-1.3(d)-7.3( )]TJ
0 -1.4012 TD
-0.0225 Tc
0.0022 Tw
[(e)-5.3(x)-1.5(tern)-5.3(al le)-5.3(nd)-5.3(in)-5.3(g)-5.3( to)-5.3( th)-5.3(e)-5.3( )6(bus)-7.5(in)-5.3(ess)-7.5( )6(sec)-7.5(t)3.8(o)-5.3(r)-0.9( will )6(s)-7.5(l)2.1(ow)-6.9( down)-5.3( ap)-5.3(prec)-7.5(ia)-5.3(bly. )]TJ
0 -1.3952 TD
0 Tc
0 Tw
( )Tj
T*
-0.0177 Tc
0.1471 Tw
[(In )-5.9(th)5.5(e )-5.9(f)8.6(o)-0.5(u)5.5(r)-2.1( m)6.9(ont)8.6(h)5.5(s)-2.7( si)6.9(n)5.5(c)3.3(e )-5.9(t)8.6(he st)8.6(a)5.5(n)-0.5(d)5.5(-)3.9(by )-5.9(a)5.5(g)-0.5(re)5.5(em)6.9(e)5.5(n)-0.5(t wa)5.5(s con)5.5(c)3.3(lu)5.5(d)5.5(ed on 4 Nov)9.2(e)5.5(mb)5.5(er 2)5.5(0)-0.5(0)5.5(8)-0.5(, exte)5.5(rn)5.5(al)6.9( )]TJ
0 -1.4012 TD
-0.0224 Tc
0.0799 Tw
[(co)-5.2(nd)-5.2(itions)-7.4( h)-5.2(a)0.8(ve)-5.2( ch)-5.2(an)-5.2(ged)-5.2( co)-5.2(nsider)-6.8(ab)-5.2(ly. )-6(Th)-5.2(e )-6(grow)-6.8(th )-6(prosp)-5.2(e)0.8(c)-7.4(t)3.9(s )-6(o)-5.2(f)-2.1( Hung)-5.2(ar)-6.8(ys )-6(ma)-5.2(in)-5.2( exp)-5.2(o)0.8(r)-6.8(t)-2.1( ma)-5.2(rke)-5.2(t)3.9(s )-6(in)-5.2( )]TJ
0 -1.3952 TD
-0.0181 Tc
0.1894 Tw
[(the)5.1( )-6(E)8.2(U)-2.5(, bot)8.2(h)5.1( )-6(ol)6.5(d an)5.1(d n)5.1(e)5.1(w)3.5( )-6(me)5.1(m)6.5(b)-0.9(e)5.1(r)3.5(s, h)5.1(a)-0.9(ve)5.1( )-6(ra)5.1(di)6.5(cally)8.8( det)8.2(e)5.1(r)-2.5(i)6.5(o)5.1(rat)8.2(e)5.1(d. Wit)8.2(h)-0.9( )-6(f)8.2(a)-0.9(l)6.5(l)0.5(i)6.5(ng e)5.1(n)-0.9(e)5.1(r)3.5(gy p)5.1(r)-2.5(i)6.5(c)-3.1(e)5.1(s)2.9( an)5.1(d)-6.9( )]TJ
T*
-0.0226 Tc
0.0082 Tw
[(d)-5.4(e)-5.4(f)3.7(la)-5.4(tiona)-5.4(r)-7(y)-1.6( press)-7.6(u)0.6(res)-7.6( )-6(in)-5.4( )-6(Eu)-5.4(ro)-5.4(pe)-5.4(, )-6(th)-5.4(e)-5.4( Hun)-5.4(g)0.6(a)-5.4(r)-1(ian)-5.4( )-6(in)-5.4(fla)-5.4(t)-2.3(iona)-5.4(r)-7(y)-1.6( ou)-5.4(tlo)-5.4(o)0.6(k)-7.6( had)-5.4( )-6(to)-5.4( be)-5.4( c)-7.6(o)0.6(rrec)-7.6(t)3.7(e)-5.4(d)-5.4( dow)-7(nwar)-7(ds)-7.6(. )]TJ
0 -1.4012 TD
-0.0229 Tc
0.0744 Tw
[(T)-4.9(hos)-7.9(e tw)-7.3(o factors)-7.9( mea)-5.7(n)-5.7( that the)-5.7( macr)-7.3(o-eco)-5.7(n)0.3(o)-5.7(mic)-7.9( fr)-7.3(amew)-7.3(ork)-7.9( )6(en)-5.7(visag)-5.7(e)0.3(d)-5.7( in)-5.7( the)-5.7( )6(assu)-5.7(mp)-5.7(tio)-5.7(n)0.3(s for the)-11.7( )]TJ
0 -1.3952 TD
-0.0226 Tc
0.0262 Tw
[(2)-5.4(009)-5.4( bud)-5.4(ge)-5.4(t )6(a)-5.4(n)0.6(d)-5.4( the)-5.4( IMF)-4.6( )6(sta)-5.4(nd-)-7(b)-5.4(y)4.3( agr)-7(eemen)-5.4(t )6(ar)-7(e)-5.4( )6(no)-5.4( lo)-5.4(nge)-5.4(r valid)-5.4(.)-2.3( Th)-5.4(e recess)-7.6(io)-5.4(n )6(w)-7(i)2(ll )6(b)-5.4(e)0.6( dee)-5.4(per an)-5.4(d )]TJ
T*
-0.0178 Tc
-0.0025 Tw
[(infl)6.8(ati)6.8(o)5.4(n l)6.8(o)5.4(we)5.4(r.)8.5( )]TJ
0 -1.4012 TD
0 Tc
0 Tw
( )Tj
0 -1.3952 TD
-0.0184 Tc
0.1358 Tw
[(In a)4.8(sse)4.8(ssi)6.2(ng )6(dev)8.5(el)6.2(o)4.8(p)-1.2(m)6.2(ent)7.9(s for )6(20)4.8(0)4.8(9)-1.2(, it i)6.2(s)-3.4( ex)8.5(p)4.8(e)-1.2(d)4.8(i)0.2(e)4.8(n)-1.2(t )]TJ
22.994 0 TD
-0.0229 Tc
0.1403 Tw
[(to)-5.7( re)-5.7(view)-7.3( in)-5.7(dividu)-5.7(al e)-5.7(l)1.7(e)-5.7(m)1.7(en)-5.7(ts)-7.9( of the)-5.7( GD)-7.3(P. In)-5.7( )]TJ
-22.994 -1.3952 TD
-0.0204 Tc
0.1617 Tw
[(2009, )-6(hous)-5.4(ehold c)-5.4(onsumption will be aff)5.9(e)2.8(c)-5.4(t)-0.1(ed by )-6(dec)]TJ
23.5749 0 TD
[(lining )-6(real wages)-5.4( in )]TJ
9.012 0 TD
-0.02 Tc
0.1613 Tw
[(both )-6(t)6.3(he bus)-5(iness)-5( and )]TJ
ET
endstream
endobj
18 0 obj
<<
/Font <<
/TT2 32 0 R
/TT4 33 0 R
/TT6 34 0 R
/TT8 35 0 R
>>
/ProcSet [/PDF /Text /ImageC /ImageI]
/XObject <<
/Im1 36 0 R
>>
/ExtGState <<
/GS1 37 0 R
>>
/ColorSpace <<
/Cs6 38 0 R
/Cs9 39 0 R
>>
>>
endobj
19 0 obj
<<
/Width 74
/Filter [/ASCII85Decode /FlateDecode]
/Height 105
/Length 143
/ColorSpace 31 0 R
/BitsPerComponent 8
>>
stream
8;Z]aD$ke9%"R;B^&..[qmiaq8C3D$.@Wf?Nsl01DacITbgo+_`O/+/qB:(7r^`Rb
J4rki@XbW`MMZ:nnRo`7#Cp$!rpRVq
endstream
endobj
20 0 obj
<<
/Length 15045
>>
stream
BT
/TT2 1 Tf
10.98 0 0 10.98 90.42 783.5603 Tm
/Cs6 cs 0.66 0.668 0.68 scn
/GS1 gs
0 Tc
0 Tw
( )Tj
12 0 0 12 114.66 782.6603 Tm
0.0072 Tc
[(wi)10(i)15(w)]TJ
/TT4 1 Tf
0 0 0 scn
2.115 0 TD
0 Tc
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 352.68 783.5603 Tm
0.66 0.668 0.68 scn
( )Tj
-23.8852 -1.3497 TD
( )Tj
10.02 0 0 10.02 114.66 769.7603 Tm
0.0003 Tc
-0.0027 Tw
[(Curre)5.6(nt Anal)8.7(y)11.5(ses and Forecas)5.6(ts | )]TJ
/TT4 1 Tf
16.1437 0 TD
0.0001 Tc
-0.0025 Tw
[(Fe)5.4(b)5.4(r)-2.2(ua)5.4(ry 2009)]TJ
/TT2 1 Tf
6.491 0 TD
0 Tc
0 Tw
( )Tj
ET
0.754 0.754 0.754 scn
84.36 763.34 30.3 -0.48 re
f
113.94 763.34 233.4 -0.48 re
f
346.62 763.34 163.74 -0.48 re
f
BT
/TT6 1 Tf
10.02 0 0 10.02 85.08 753.6803 Tm
0 0 0 scn
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
0 -61.9102 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 85.08 73.2803 Tm
0.754 0.754 0.754 scn
(2)Tj
/TT6 1 Tf
7.98 0 0 7.98 91.2 73.2803 Tm
0 0 0 scn
( )Tj
ET
0.754 0.754 0.754 scn
83.58 85.04 428.28 -0.48 re
f
q
1 i
94.68 795.62 13.8 -17.46 re
W* n
q
13.6781 0 0 17.28 94.86 778.4003 cm
/Im2 Do
Q
Q
BT
10.02 0 0 10.02 108.42 778.4003 Tm
0 0 0 scn
( )Tj
/TT4 1 Tf
-2.3293 -6.1677 TD
-0.0215 Tc
0.0371 Tw
[(p)-4.3(u)1.7(b)-4.3(lic)-6.5( sec)-6.5(t)-1.2(ors)-6.5(;)4.8( )-6(un)-4.3(emplo)-4.3(y)5.4(men)-4.3(t)-1.2( w)-5.9(i)3.1(ll incre)-4.3(a)1.7(se)-4.3(; a)-4.3(n)1.7(d)-4.3( cre)-4.3(d)1.7(it w)-5.9(i)3.1(ll bec)-6.5(ome more)-4.3( e)-4.3(x)-0.5(pens)-6.5(ive)-4.3( a)-4.3(n)1.7(d)-4.3( less )-6(rea)-4.3(d)1.7(ily )]TJ
0 -1.3952 TD
-0.0228 Tc
0.0563 Tw
[(a)-5.6(v)-1.8(aila)-5.6(b)-5.6(l)1.8(e)-5.6(.)3.5( H)-7.2(ouse)-5.6(h)0.4(o)-5.6(l)1.8(ds)-7.8( with )-6(fo)-5.6(re)-5.6(ign)-5.6( e)-5.6(x)4.1(c)-7.8(hang)-5.6(e )-6(lo)-5.6(ans)-7.8( will h)-5.6(a)-5.6(v)4.1(e)-5.6( )-6(to)-5.6( reck)-7.8(on)-5.6( w)-7.2(i)-4.2(th)-5.6( a)-5.6( h)-5.6(i)1.8(gh)-5.6(er)-7.2( de)-5.6(b)-5.6(t)3.5( s)-7.8(e)0.4(r)-7.2(v)-1.8(ice )-6(in)-5.6( )]TJ
0 -1.4012 TD
-0.0226 Tc
0.0322 Tw
[(for)-7(i)-4(n)-5.4(t)-2.3( ter)-7(m)2(s)-7.6( on)-5.4( acco)-5.4(un)-5.4(t o)-5.4(f)-2.3( a w)-7(eak)-7.6(er)-7( )6(e)-5.4(x)4.3(c)-7.6(h)0.6(a)-5.4(nge)-5.4( ra)-5.4(te)-5.4(. )6(G)-5.2(i)-4(ve)-5.4(n)-5.4( th)-5.4(e)-5.4( bleak)-7.6( ou)-5.4(tlo)-5.4(o)0.6(k)-7.6(,)-2.2( )6(h)-5.4(ous)-7.6(eh)-5.4(olds pr)-7(ope)-5.4(ns)-7.6(ity )]TJ
0 -1.3952 TD
-0.0188 Tc
0.0583 Tw
[(to sav)8.1(e)-1.6( will )6(m)5.8(o)4.4(st li)5.8(kely i)5.8(n)4.4(crease. )6(Cut)7.5(s)-3.8( in )6(som)5.8(e)-1.6( )6(so)]TJ
21.1317 0 TD
-0.0186 Tc
0.0521 Tw
[(ci)6(al )-6(t)7.7(r)3(ansfers cannot be ex)]TJ
11.3533 0 TD
-0.0193 Tc
0.0588 Tw
[(cl)5.3(uded either, f)7(u)3.9(rther t)7(o)-8.1( )]TJ
-32.485 -1.3952 TD
-0.0184 Tc
0.1238 Tw
[(whi)6.2(c)2.6(h a p)4.8(o)4.8(s)2.6(si)6.2(bl)6.2(e in)4.8(crea)4.8(se i)6.2(n)-1.2( th)4.8(e VAT )6(rat)7.9(e)-1.2( m)6.2(a)-1.2(y di)6.2(sco)4.8(u)4.8(r)-2.8(a)4.8(g)4.8(e)-1.2( )6(co)4.8(n)4.8(s)-3.4(u)4.8(m)6.2(pti)6.2(on. )6(Th)4.8(e o)4.8(u)-1.2(t)7.9(c)2.6(om)6.2(e m)6.2(a)-1.2(y b)4.8(e)4.8( a)-7.2( )]TJ
0 -1.4012 TD
-0.008 Tw
[(de)4.9(cli)6.3(ne in ho)4.9(u)4.9(s)2.7(eh)4.9(ol)6.3(d con)4.9(s)2.7(u)4.9(m)0.3(pti)6.3(o)4.9(n )-6(of)8( )-6(th)4.9(e ord)4.9(e)4.9(r)-2.7( )-6(of 3% a)4.9(nd 4%. )]TJ
0 -1.3952 TD
0 Tc
0 Tw
( )Tj
T*
-0.0186 Tc
0.0701 Tw
[(Th)4.6(e )-6(i)6(n)-1.4(ve)4.6(stm)6(e)4.6(nt )-6(o)4.6(u)-1.4(tl)6(o)4.6(o)4.6(k)-3.6( )-6(i)6(s)-3.6( b)4.6(l)0(e)4.6(a)4.6(k)-3.6( )-6(a)4.6(s)-3.6( wel)6(l)0(. Dom)6(e)4.6(sti)6(c)-3.6( de)4.6(ma)4.6(nd i)6(s)-3.6( shrin)4.6(k)-3.6(i)6(n)4.6(g; )-6(th)4.6(e dev)8.3(e)4.6(l)0(o)4.6(p)-1.4(m)6(ent of ex)8.3(po)4.6(rt )]TJ
0 -1.4012 TD
-0.0182 Tc
0.1176 Tw
[(ma)5(rket)8.1(s i)6.4(s)-3.2( )6(un)5(certai)6.4(n. )6(On t)8.1(h)5(e fi)6.4(na)5(n)5(c)-3.2(i)6.4(ng )6(si)6.4(de )6(of i)6.4(n)-1(v)8.7(e)5(stm)6.4(ent)8.1(s, )6(li)6.4(qu)5(idi)6.4(t)2.2(y in t)8.1(he )6(e)5(c)2.8(on)5(o)5(m)0.4(y h)5(a)5(s)-3.2( g)5(e)5(n)-1(e)5(r)3.4(ally)8.7( )]TJ
0 -1.3952 TD
-0.0178 Tc
0.0394 Tw
[(shru)5.4(n)5.4(k)-2.8( an)5.4(d )-6(f)8.5(o)5.4(re)5.4(ig)5.4(n inv)9.1(e)5.4(st)8.5(ors ca)5.4(nn)5.4(ot be)5.4( cou)5.4(n)-0.6(t)8.5(ed o)5.4(n)]TJ
21.7665 0 TD
-0.0183 Tc
0.0459 Tw
[( t)8(o)-1.1( )6(provi)6.3(d)4.9(e )6(sub)4.9(s)-3.3(t)8(ant)8(ia)4.9(l a)4.9(d)4.9(d)-1.1(iti)6.3(o)4.9(n)4.9(a)-1.1(l i)6.3(m)6.3(pet)8(u)4.9(s)-3.3(. P)8(r)3.3(ofit)8(s )]TJ
-21.7665 -1.3952 TD
-0.0223 Tc
0.002 Tw
[(w)-6.7(i)2.3(ll b)-5.1(e)0.9( )-5.9(low)-6.7(e)0.9(r)-6.7(,)4( cr)-6.7(ed)-5.1(its w)-6.7(i)-3.7(ll b)-5.1(e)0.9( more)-5.1( e)-5.1(x)-1.3(pens)-7.3(ive)-5.1( a)-5.1(n)0.9(d)-5.1( co)-5.1(nd)-5.1(itio)-5.1(na)-5.1(lity s)-7.3(t)4(r)-6.7(i)2.3(c)-7.3(t)4(er)-6.7( th)-5.1(an)-5.1( be)-5.1(fore)-5.1( )-5.9(the)-5.1( cr)-6.7(is)-7.3(is)-7.3(. )-5.9(The)-5.1( on)-5.1(l)-9.7(y)-7.3( )]TJ
0 -1.4012 TD
-0.0218 Tc
0.1032 Tw
[(e)-4.6(x)-0.8(pan)-4.6(ding)-4.6( seg)-4.6(m)2.8(e)-4.6(n)-4.6(t)-1.5( )5.9(w)-6.2(i)2.8(ll be in)-4.6(ves)-6.8(t)4.5(men)-4.6(t)-1.5( fin)-4.6(ance)-4.6(d)-4.6( )5.9(b)-4.6(y)-0.8( EU)-6.2( trans)-6.8(fers)-6.8(. )5.9(Th)-4.6(is)-6.8( )5.9(w)-6.2(i)-3.2(ll acc)-6.8(e)1.4(ler)-6.2(a)1.4(te)-4.6( as)-6.8( )5.9(more)-4.6( a)-4.6(nd )]TJ
0 -1.3952 TD
-0.0223 Tc
0.002 Tw
[(more)-5.1( co)-5.1(mmitmen)-5.1(t)4(s)-7.3( ar)-6.7(is)-7.3(ing)-5.1( o)-5.1(u)-5.1(t)-2( )6(o)-5.1(f)-2( th)-5.1(e)-5.1( )6(2)-5.1(007)-5.1(-20)-5.1(1)0.9(3)-5.1( fin)-5.1(anc)-7.3(ia)-5.1(l framework)-7.3( e)-5.1(n)-5.1(t)4(er)-6.7( the)-5.1( imp)-5.1(l)2.3(e)-5.1(m)2.3(e)-5.1(n)-5.1(t)4(a)-5.1(t)-1.9(ion)-5.1( phas)-7.3(e )]TJ
T*
-0.0225 Tc
0.1339 Tw
[(\(r)-6.9(oads)-7.5(, ra)-5.3(ilway lines)-7.5(, sch)-5.3(ools)-7.5(,)-2.2( )6(was)-7.5(t)-2.2(e)-5.3( )6(w)-6.9(a)0.7(te)-5.3(r)-6.9( tre)-5.3(a)-5.3(t)3.8(men)-5.3(t, lo)-5.3(gis)-7.5(t)-2.2(ics)-7.5( an)-5.3(d)-5.3( to)-5.3(ur)-6.9(ism\))-6.9(. Th)-5.3(e)-5.3( )6(g)-5.3(o)-5.3(v)4.4(er)-6.9(nme)-5.3(n)-5.3(t)-2.2( has)-7.5( )]TJ
0 -1.4012 TD
0.0381 Tw
[(b)-5.3(egu)-5.3(n)-5.3( )6(r)-6.9(earr)-6.9(ang)-5.3(in)-5.3(g)-5.3( )6(s)-7.5(pen)-5.3(ding ta)-5.3(rg)-5.3(e)-5.3(t)3.8(s)-7.5( bo)-5.3(th)-5.3( ac)-7.5(ross)-7.5( and)-5.3( w)-6.9(i)2.1(th)-5.3(in)-5.3( th)-5.3(e)-5.3( )6(o)-5.3(per)-6.9(ation)-5.3(a)0.7(l pr)-6.9(ogr)-6.9(ammes)-7.5( o)-5.3(f)-2.2( the)-5.3( New )]TJ
0 -1.3952 TD
-0.0227 Tc
0.0802 Tw
[(Hu)-5.5(nga)-5.5(r)-7.1(y)-1.7( )6(De)-5.5(ve)-5.5(lo)-5.5(pmen)-5.5(t Plan)-5.5( co-)-7.1(f)-2.4(in)-5.5(ance)-5.5(d)0.5( b)-5.5(y)-1.7( th)-5.5(e)-5.5( EU)-7.1(. Au)-5.5(thor)-7.1(iza)-5.5(t)-2.4(io)-5.5(n)-5.5( )6(proc)-7.7(edu)-5.5(res)-7.7( )6(w)-7.1(i)-4.1(ll b)-5.5(e)-5.5( )6(s)-7.7(i)1.9(mplified)-5.5( a)-5.5(nd )]TJ
T*
-0.0206 Tc
0.0003 Tw
[(acc)-5.6(e)2.6(lerated. )]TJ
0 -1.4012 TD
0 Tc
0 Tw
( )Tj
0 -1.3952 TD
-0.0227 Tc
0.0503 Tw
[(Ne)-5.5(t )-5.9(e)-5.5(x)4.2(p)-5.5(o)0.5(r)-7.1(t)3.6(s)-7.7( ha)-5.5(ve)-5.5( b)-5.5(e)0.5(come)-5.5( a)-5.5(n)-5.5( )-5.9(imp)-5.5(or)-7.1(ta)-5.5(n)-5.5(t)-2.4( co)-5.5(n)-5.5(t)3.6(r)-7.1(i)1.9(bu)-5.5(tor)-7.1( )-5.9(to)-5.5( Hu)-5.5(nga)-5.5(rian)-5.5( )-5.9(eco)-5.5(n)0.5(o)-5.5(mic)-7.7( )-5.9(grow)-7.1(th)-5.5( )-5.9(e)-5.5(v)4.2(er)-7.1( s)-7.7(i)-4.1(nce)-5.5( 20)-5.5(04)-5.5(. )]TJ
T*
-0.0179 Tc
0.1233 Tw
[(Thi)6.7(s)-2.9( y)9(e)5.3(a)5.3(r)-2.3(, th)5.3(e)5.3(y)3.1( wi)6.7(ll b)5.3(e)-0.7( t)8.4(he )6(on)5.3(ly )6(co)5.3(mp)5.3(o)5.3(n)-0.7(e)5.3(n)-0.7(t i)6.7(n)-0.7( th)5.3(e )6(G)5.4(D)-2.3(P)8.4( to )6(co)5.3(nt)8.4(ri)6.7(but)8.4(e )6(po)5.3(sitiv)9(e)-0.7(ly t)8.4(o)-0.7( a)5.3( cha)5.3(n)5.3(ge i)6.7(n)-0.7( t)8.4(h)5.3(e )]TJ
0 -1.4012 TD
-0.0235 Tc
0.075 Tw
[(GD)-7.9(P. )6(Ow)-7.9(ing)-6.3( to)-6.3( th)-6.3(e in)-6.3(te)-6.3(rna)-6.3(t)-3.2(io)-6.3(na)-6.3(l )6(cr)-7.9(is)-8.5(is)-8.5(, both)-6.3( )6(e)-6.3(x)-2.5(por)-7.9(ts)-8.5( )6(and)-6.3( imp)-6.3(or)-7.9(ts are)-6.3( )6(lik)-8.5(e)-0.3(ly to)-6.3( )6(con)-6.3(t)-3.2(rac)-8.5(t; )6(n)-6.3(e)-6.3(v)3.4(er)-7.9(th)-6.3(eless)-8.5( )]TJ
0 -1.3952 TD
-0.0226 Tc
0.0981 Tw
[(impor)-7(ts)-7.6( w)-7(i)2(ll dec)-7.6(line)-5.4( )-5.9(mor)-7(e)0.6( )-5.9(ra)-5.4(pidly )-5.9(than)-5.4( e)-5.4(x)4.3(p)-5.4(o)0.6(r)-7(t)3.7(s)-7.6(,)-2.3( as)-7.6( a)-5.4( cons)-7.6(equ)-5.4(ence)-5.4( )-6(o)-5.4(f)3.7( )-5.9(the)-5.4( )-5.9(drop)-5.4( )-5.9(in)-5.4( do)-5.4(mes)-7.6(t)-2.3(ic)-7.6( de)-5.4(man)-5.4(d)-5.4( )]TJ
T*
-0.0221 Tc
0.1275 Tw
[(a)-4.9(n)1.1(d)-4.9( lowe)-4.9(r ene)-4.9(rg)-4.9(y )6(pr)-6.5(ices)-7.1(. Altho)-4.9(ugh)-4.9( imports)-7.1( )6(w)-6.5(i)2.5(ll )6(d)-4.9(e)1.1(clin)-4.9(e in)-4.9( the)-4.9( ma)-4.9(in)-4.9( )6(Hu)-4.9(nga)-4.9(rian)-4.9( )6(e)-4.9(x)4.8(p)-4.9(o)1.1(r)-6.5(t)-1.8( )6(marke)-4.9(t)4.2(s)-7.1(,)-1.8( )6(th)-4.9(e)-4.9( )]TJ
0 -1.4012 TD
0.0137 Tw
[(sh)-4.9(rinkag)-4.9(e)-4.9( o)-4.9(f)-1.8( Hu)-4.9(nga)-4.9(rian)-4.9( e)-4.9(x)4.8(p)-4.9(o)1.1(r)-6.5(t)4.2(s)-7.1( ma)-4.9(y b)-4.9(e)-4.9( p)-4.9(r)-0.5(op)-4.9(or)-6.5(tiona)-4.9(lly less)-7.1( s)-7.1(t)4.2(e)-4.9(e)1.1(p)-4.9( )-6(than)-4.9( )-6(the)-4.9( d)-4.9(e)1.1(c)-7.1(l)2.5(ine)-4.9( )-6(in)-4.9( )-6(impor)-6.5(ts)-7.1( )-6(in)-4.9( )-6(thos)-7.1(e )]TJ
0 -1.3952 TD
-0.0223 Tc
0.0199 Tw
[(marke)-5.1(t)4(s)-7.3(.)-2( O)-4.9(v)4.6(er th)-5.1(e)-5.1( )6(pas)-7.3(t few)-6.7( )6(ye)-5.1(ars)-7.3(,)-2( )6(Hu)-5.1(nga)-5.1(ry h)-5.1(a)0.9(s)-7.3( )6(re)-5.1(gu)-5.1(lar)-6.7(l)2.3(y man)-5.1(age)-5.1(d)-5.1( to)-5.1( )6(ac)-7.3(hie)-5.1(v)4.6(e)-5.1( e)-5.1(x)4.6(port g)-5.1(r)-0.7(ow)-6.7(th)-5.1( )6(r)-6.7(a)-5.1(tes)-7.3( )6(in)-5.1( )]TJ
T*
-0.0229 Tc
0.0205 Tw
[(its ma)-5.7(in)-5.7( for)-7.3(e)0.3(ign)-5.7( marke)-5.7(t)3.4(s)-7.9( th)-5.7(a)-5.7(t)3.4( wer)-7.3(e)0.3( highe)-5.7(r th)-5.7(an)-5.7( thes)-7.9(e mark)-7.9(ets)-7.9()-4.3( )6(o)-5.7(v)-1.9(era)-5.7(l)1.7(l impor)-7.3(t )6(g)-5.7(r)-1.3(ow)-7.3(th)-5.7( )6(r)-7.3(a)0.3(tes)-7.9(.)3.4( Hun)-5.7(gar)-7.3(ia)-5.7(n )]TJ
0 -1.4012 TD
-0.0224 Tc
0.02 Tw
[(e)-5.2(x)-1.4(por)-6.8(ts)-7.4( w)-6.8(i)-3.8(ll )-6(be )-6(su)-5.2(ppo)-5.2(rted)-5.2( b)-5.2(y)-1.4( th)-5.2(e)-5.2( seco)-5.2(nda)-5.2(r)-6.8(y)4.5( )-6(e)-5.2(ffec)-7.4(t)3.9(s )-6(o)-5.2(f)-2.1( )-6(the)-5.2( co)-5.2(un)-5.2(te)-5.2(r-c)-7.4(yclica)-5.2(l ec)-7.4(ono)-5.2(mic)-7.4( po)-5.2(lic)-7.4(y)-1.4( in)-5.2( )-6(the)-5.2( )-6(EU)-6.8(, )]TJ
0 -1.3952 TD
-0.0189 Tc
0.0584 Tw
[(prim)5.7(a)4.3(r)-3.3(ily )-6(i)5.7(n)-1.7( G)4.4(e)-1.7(rm)5.7(any. Th)4.3(i)5.7(s)-3.9( )-6(ap)4.3(pl)5.7(ie)]TJ
14.1976 0 TD
-0.018 Tc
0.0635 Tw
[(s )6(prim)6.6(a)5.2(r)3.6(ily to t)8.3(he )6(aut)8.3(o)5.2(m)0.6(otiv)8.9(e )6(cl)6.6(u)5.2(s)-3(t)8.3(e)-0.8(r. Expo)5.2(rt)8.3(e)5.2(r)3.6(s of )6(bot)8.3(h a)5.2(sse)5.2(mb)5.2(l)6.6(ed )]TJ
-14.1976 -1.3952 TD
-0.0229 Tc
0.0804 Tw
[(ca)-5.7(rs )-6(and)-5.7( c)-7.9(a)0.3(r)-7.3( co)-5.7(mp)-5.7(one)-5.7(n)-5.7(t)3.4(s )-6(\(suc)-7.9(h)-5.7( as)-7.9( en)-5.7(gines)-7.9( )-6(prod)-5.7(uced)-5.7( )-6(fo)-5.7(r )-6(Aud)-5.7(i)-4.3(, )-6(VW)-7.2(, Sko)-5.7(d)0.3(a)-5.7( an)-5.7(d)-5.7( Se)-5.7(a)-5.7(t)-2.6( mo)-5.7(de)-5.7(ls\))-7.3( ma)-5.7(y )]TJ
0 -1.4012 TD
-0.0173 Tc
0.1047 Tw
[(profit)9( i)7.3(n)5.9(di)7.3(re)5.9(ct)9(l)7.3(y)3.7( from)7.3( t)9(h)-0.1(e)5.9( )6(su)5.9(b)5.9(s)-2.3(i)7.3(d)-0.1(i)7.3(e)5.9(s t)9(hat)9( t)9(h)5.9(e )6(ol)7.3(d )]TJ
20.1497 0 TD
-0.0228 Tc
0.1102 Tw
[(EU member)-7.2( )6(s)-7.8(t)3.5(a)-5.6(t)-2.5(es )6(ar)-7.2(e )6(g)-5.6(r)-1.2(an)-5.6(tin)-5.6(g)0.4( on the)-5.6( )5.9(pu)-5.6(rchas)-7.8(e o)-5.6(f)-2.5( )]TJ
-20.1497 -1.3952 TD
-0.0181 Tc
-0.0022 Tw
[(ne)5.1(w )6(ca)5.1(rs. T)5.9(h)5.1(e)5.1( aut)8.2(om)6.5(otiv)8.8(e )6(cl)6.5(u)5.1(s)-3.1(te)5.1(r )6(a)5.1(c)2.9(co)5.1(u)5.1(n)-0.9(t)8.2(s)-3.1( f)8.2(o)5.1(r ro)5.1(ug)5.1(hly )6(2)5.1(0)-0.9(% of)8.2( Hu)5.1(ng)5.1(a)5.1(r)3.5(ys )6(ex)8.8(po)5.1(rt)8.2(s. )]TJ
T*
0 Tc
0 Tw
( )Tj
0 -1.4012 TD
-0.0184 Tc
0.1777 Tw
[(In sum)6.2(m)0.2(a)4.8(r)-2.8(y, a de)4.8(clin)4.8(e in)4.8( con)4.8(s)2.6(um)6.2(pti)6.2(o)4.8(n o)4.8(f)1.9( )-6(a)4.8(b)-1.2(o)4.8(u)-1.2(t 3.)7.9(5%,)7.9( )-6(a d)4.8(r)-2.8(o)4.8(p)-1.2( in)4.8( )-6(i)6.2(n)4.8(ve)4.8(stm)6.2(ent)7.9( )-6(of)7.9( )-6(a)4.8(b)-1.2(o)4.8(u)-1.2(t 5% a)4.8(n)-1.2(d)4.8( )-6(a )]TJ
0 -1.3952 TD
-0.0236 Tc
0.0272 Tw
[(so)-6.4(mew)-8(h)-0.4(a)-6.4(t)2.7( mor)-8(e)-0.4( )6(p)-6.4(r)-2(on)-6.4(ounc)-8.6(ed)-6.4( )6(d)-6.4(e)-0.4(clin)-6.4(e in)-6.4( impor)-8(ts)-8.6( )6(\(3)-6.4(%\))-8( th)-6.4(an)-6.4( )6(in e)-6.4(x)3.3(por)-8(ts \(2)-6.4(%\))-8( )6(ma)-6.4(y )6(a)-6.4(d)-0.4(d)-6.4( )6(u)-6.4(p)-0.4( to)-6.4( )6(a)-6.4( fa)-6.4(ll in)-6.4( th)-6.4(e )]TJ
T*
-0.0185 Tc
0.058 Tw
[(G)4.8(D)-2.9(P of )6(a)4.7(b)-1.3(o)4.7(u)-1.3(t)7.8( 3% i)6.1(n)-1.3( 2)4.7(0)4.7(09. I)7.8(n)-1.3( g)4.7(r)3.1(o)4.7(w)-2.9(th )6(rat)7.8(e)-1.3( te)4.7(rm)6.1(s, t)7.8(hat )6(i)6.1(s)-3.5( )6(eq)4.7(uiv)8.4(a)-1.3(l)6.1(e)-1.3(n)4.7(t)1.8( to )6(a d)4.7(e)-1.3(t)7.8(e)-1.3(rio)4.7(r)3.1(ati)6.1(o)4.7(n of )6(mo)4.7(re t)7.8(h)-1.3(a)4.7(n)-1.3( 3)4.7( )]TJ
0 -1.4012 TD
-0.023 Tc
0.0266 Tw
[(p)-5.8(e)0.2(rce)-5.8(n)-5.8(t)3.3(ag)-5.8(e )6(po)-5.8(in)-5.8(ts)-8( )6(co)-5.8(mpa)-5.8(r)-1.4(ed)-5.8( to)-5.8( the)-5.8( )6(pr)-7.4(e)-5.8(v)3.9(ious)-8( ye)-5.8(ar)-7.4(. Owing)-5.8( to)-5.8( )6(a)-5.8(l)1.6(l th)-5.8(ose )6(u)-5.8(n)0.2(cer)-7.4(t)-2.6(ain)-5.8(t)3.3(ies)-8(,)3.3( )6(th)-5.8(is)-8( )6(forec)-8(a)0.2(s)-8(t)3.3( is to)-5.8( )]TJ
0 -1.3952 TD
-0.0223 Tc
0.0798 Tw
[(b)-5.1(e)-5.1( )6(se)-5.1(en)-5.1( as)-7.3( the)-5.1( me)-5.1(dian)-5.1( value)-5.1( within)-5.1( )6(a)-5.1( )6(w)-6.7(i)2.3(de)-5.1( ba)-5.1(nd)-5.1( of poss)-7.3(i)2.3(b)-5.1(l)2.3(e)-5.1( grow)-6.7(th)-5.1( )6(ra)-5.1(tes)-7.3(.)-2( In)-5.1( the)-5.1( ultimate)-5.1( )6(a)-5.1(n)0.9(a)-5.1(l)-3.7(ysis)-7.3(,)-7.9( )]TJ
T*
-0.018 Tc
-0.0083 Tw
[(re)5.2(al d)5.2(e)-0.8(ve)5.2(lo)5.2(pm)6.6(ent)8.3(s may)8.9( cul)6.6(min)5.2(at)8.3(e )-6(i)6.6(n)-0.8( )-6(a d)5.2(e)5.2(c)-3(l)6.6(i)0.6(n)5.2(e)-0.8( )-6(i)6.6(n)-0.8( G)5.3(D)-2.4(P )-6(o)5.2(f)2.3( )-5.9(up )-6(t)8.3(o)-0.8( 5%. )]TJ
0 -1.4012 TD
0 Tc
0 Tw
( )Tj
0 -1.3952 TD
-0.0228 Tc
0.1522 Tw
[(T)-4.8(h)0.4(e)-5.6( go)-5.6(ve)-5.6(rnme)-5.6(n)-5.6(t)-2.5( fac)-7.8(e)0.4(s)-7.8( )6(a)-5.6( trip)-5.6(le)-5.6( )6(c)-7.8(h)0.4(a)-5.6(l)1.8(leng)-5.6(e: imme)-5.6(d)0.4(ia)-5.6(te)-5.6( )6(meas)-7.8(ures)-7.8( mus)-7.8(t)-2.5( be)-5.6( tak)-7.8(e)0.4(n)-5.6( to)-5.6( ens)-7.8(ure)-5.6( tha)-5.6(t)3.5( th)-5.6(e)-11.6( )]TJ
T*
-0.0222 Tc
0.1695 Tw
[(fisca)-5(l de)-5(fic)-7.2(i)2.4(t )6(co)-5(rresp)-5(onds)-7.2( to tha)-5(t)-1.9( )6(a)-5(g)1(re)-5(ed)-5( )6(w)-6.6(i)-3.6(th)-5( the)-5( IMF)-4.2(;)4.1( a)-5( )6(b)-5(oos)-7.2(t )6(will )6(h)-5(a)-5(v)4.7(e)-5( to)-5( )6(b)-5(e)1( give)-5(n to)-5( )6(do)-5(mestic)-7.2( )]TJ
0 -1.4012 TD
0.0137 Tw
[(ec)-7.1(ono)-4.9(mic)-7.1( ac)-7.1(tivities)-7.1( in)-4.9( or)-6.5(der)-6.5( to)-4.9( )-6(min)-4.9(i)2.5(mize)-4.9( )-6(the)-4.9( r)-6.5(e)1.1(cess)-7.1(io)-4.9(n)-4.9(;)-1.8( an)-4.9(d)-4.9( re)-4.9(forms)-7.1( w)-6.5(i)-3.5(ll )-6(ha)-4.9(ve)-4.9( )-6(to)-4.9( b)-4.9(e)-4.9( initia)-4.9(ted)-4.9( )-6(to)-4.9( ens)-7.1(ur)-6.5(e)7.1( )]TJ
0 -1.3952 TD
-0.0179 Tc
0.2311 Tw
[(the )6(su)5.3(st)8.4(ai)6.7(na)5.3(bi)6.7(lity of f)8.4(i)6.7(sca)5.3(l)0.7( i)6.7(m)0.7(p)5.3(r)3.7(ove)5.3(m)0.7(e)5.3(n)-0.7(t)8.4(s)3.1( an)5.3(d l)6.7(e)5.3(ssen t)8.4(he )6(em)6.7(pl)6.7(oy)9(me)5.3(nt)8.4(-rel)6.7(at)8.4(ed t)8.4(a)-0.7(x)9( bu)5.3(rde)5.3(n)-0.7( )6(on)5.3( t)8.4(h)-0.7(e)5.3( )]TJ
ET
endstream
endobj
21 0 obj
<<
/Font <<
/TT2 32 0 R
/TT4 33 0 R
/TT6 34 0 R
>>
/ProcSet [/PDF /Text /ImageC /ImageI]
/XObject <<
/Im2 40 0 R
>>
/ExtGState <<
/GS1 37 0 R
>>
/ColorSpace <<
/Cs6 38 0 R
/Cs11 41 0 R
>>
>>
endobj
22 0 obj
<<
/Width 74
/Filter [/ASCII85Decode /FlateDecode]
/Height 105
/Length 174
/ColorSpace 31 0 R
/BitsPerComponent 8
>>
stream
8;Z]b5mi,b&;B)Rs&m"\/E\KKMa0'8,P;6?(I8EFcZkZ7%SUEdY
ZeY%qG"QE3jkQ?h208kaM8p>8HGG//1M(kaDRqm4_@%Cd-W!HF,~>
endstream
endobj
23 0 obj
<<
/Length 13397
>>
stream
BT
/TT2 1 Tf
10.98 0 0 10.98 88.38 780.1403 Tm
/Cs6 cs 0.66 0.668 0.68 scn
/GS1 gs
0 Tc
0 Tw
( )Tj
/TT4 1 Tf
13.98 0 0 13.98 233.94 780.7403 Tm
0 0 0 scn
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 419.7 783.5603 Tm
0.66 0.668 0.68 scn
( )Tj
10.02 0 0 10.02 82.98 768.3803 Tm
0 0 0 scn
0.0003 Tc
-0.0027 Tw
[(The ne)17.5(w)-24.3( )6(EU )6(member sta)5.6(t)4(es )-21311.4(Coun)6.4(tr)-5.8(y)17.5( reports)]TJ
ET
0.754 0.754 0.754 scn
82.26 763.16 151.68 -0.48 re
f
233.22 763.16 277.14 -0.48 re
f
BT
/TT6 1 Tf
10.02 0 0 10.02 85.08 753.5003 Tm
0 0 0 scn
0 Tc
0 Tw
( )Tj
0 -1.1437 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -61.8922 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 504.24 73.2803 Tm
0.754 0.754 0.754 scn
(3)Tj
/TT6 1 Tf
7.98 0 0 7.98 510.36 73.2803 Tm
0 0 0 scn
( )Tj
ET
0.754 0.754 0.754 scn
83.58 85.04 428.28 -0.48 re
f
BT
/TT4 1 Tf
10.02 0 0 10.02 85.08 716.4203 Tm
0 0 0 scn
-0.0192 Tc
-0.0011 Tw
[(business )6(sect)7.1(or. All t)7.1(h)-2(ese )]TJ
11.0659 0 TD
-0.0071 Tw
[(problem)5.4(s)-4.2( will have )-6(to be solv)7.7(ed )-6(by a )-6(mi)]TJ
16.5868 0 TD
-0.0195 Tc
-0.0008 Tw
[(norit)6.8(y)1.5( gov)7.4(ernment )6(st)6.8(ruggli)5.1(ng with a)-8.3( )]TJ
-27.6527 -1.3952 TD
-0.0222 Tc
-0.0041 Tw
[(co)-5(nsider)-6.6(ab)-5(le)-5( cr)-6.6(ed)-5(ib)-5(ility d)-5(e)-5(f)4.1(ic)-7.2(it. )-6( )]TJ
T*
0 Tc
0 Tw
( )Tj
0 -1.4012 TD
-0.0225 Tc
0.0381 Tw
[(O)-5.1(n)-5.3( )6(1)-5.3(6)-5.3( Feb)-5.3(r)-0.9(uar)-6.9(y 20)-5.3(09)-5.3( the)-5.3( go)-5.3(vern)-5.3(men)-5.3(t)-2.2( pres)-7.5(en)-5.3(te)-5.3(d)-5.3( in)-5.3( br)-6.9(oa)-5.3(d)-5.3( )6(s)-7.5(t)3.8(r)-6.9(o)0.7(kes)-7.5( a)-5.3( )6(ma)-5.3(jor)-6.9( pack)-7.5(age)-5.3( o)-5.3(f)-2.2( ta)-5.3(x re)-5.3(form. )]TJ
/TT8 1 Tf
41.6407 0 TD
-0.0203 Tc
0 Tw
[(In)-9.1( )]TJ
-41.6407 -1.3952 TD
-0.0195 Tc
(toto)Tj
/TT4 1 Tf
1.5928 0 TD
-0.0188 Tc
0.0464 Tw
[(, t)7.5(he )6(re-arrangem)5.8(ent )6(wi)5.8(ll)5.8( hav)8.1(e to be of)7.5( the order of)]TJ
21.6527 0 TD
-0.0193 Tc
0.0469 Tw
[( )6(1000 billi)5.3(on fori)5.3(nt, am)5.3(ount)7(ing to som)5.3(e)-2.1( 4% )6(of )]TJ
-23.2455 -1.3952 TD
-0.0229 Tc
0.0505 Tw
[(th)-5.7(e)-5.7( GD)-7.3(P. On)-5.7( th)-5.7(e)-5.7( on)-5.7(e)-5.7( ha)-5.7(nd)-5.7(, )-5.9(th)-5.7(e)-5.7( eco)-5.7(n)0.3(o)-5.7(m)-4.3(y )-5.9(is)-7.9( )-5.9(to)-5.7( b)-5.7(e)-5.7( s)-7.9(t)]TJ
22.2515 0 TD
-0.0213 Tc
0.0489 Tw
[(imula)-4.1(t)5(e)-4.1(d)-4.1( b)-4.1(y)-0.3( r)-5.7(educing)-4.1( )-5.9(emplo)-4.1(y)5.6(ers )-5.9(soc)-6.3(i)3.3(a)-4.1(l)-2.7( secu)-4.1(rity)-6.3( )]TJ
-22.2515 -1.4012 TD
-0.0184 Tc
0.028 Tw
[(cont)7.9(ri)6.2(b)4.8(u)-1.2(ti)6.2(on)4.8(s f)7.9(r)-2.8(o)4.8(m)0.2( 32)4.8(% )-6(to 2)4.8(7)-1.2(%, )-6(i)6.2(n)4.8(cre)4.8(a)4.8(s)-3.4(i)6.2(n)4.8(g )-6(th)4.8(e nu)4.8(m)6.2(b)-1.2(e)4.8(r)-2.8( of )-6(th)4.8(o)4.8(s)2.6(e )-6(t)7.9(a)-1.2(xe)4.8(d)4.8( )-6(by )-6(t)7.9(he lo)4.8(we)4.8(r pe)4.8(rson)4.8(al in)4.8(co)4.8(me )]TJ
0 -1.3952 TD
-0.0186 Tc
0.1 Tw
[(tax rate)4.6( \(wh)4.6(i)6(ch )-6(i)6(n)4.6( )-6(tu)4.6(rn wi)6(ll)6( be)4.6( ra)4.6(i)6(s)-3.6(e)4.6(d)-1.4( )-6(f)7.7(r)3(o)4.6(m)0( 18%)8.3( )-6(t)7.7(o)-1.4( 19)4.6(%\), a)4.6(s)2.4( we)4.6(ll a)4.6(s)-3.6( by)8.3( scra)4.6(pp)4.6(in)4.6(g )-6(t)7.7(h)-1.4(e)4.6( 4% so)4.6(-call)6(e)4.6(d)-7.4( )]TJ
T*
-0.0182 Tc
0.1236 Tw
[(sol)6.4(id)5(a)5(r)-2.6(ity tax)8.7()6.4( on b)5(u)5(s)-3.2(i)6.4(n)-1(e)5(sse)5(s a)5(nd t)8.1(h)-1(o)5(s)2.8(e )6(in)5(divi)6.4(du)5(al)6.4(s i)6.4(n)-1( )6(the )6(hi)6.4(gh)5(e)5(s)-3.2(t ta)5(x bra)5(c)2.8(ket. )6(On)5( the ot)8.1(h)5(e)-1(r )6(ha)5(nd,)8.1( )]TJ
0 -1.4012 TD
-0.0196 Tc
0.0472 Tw
[(addit)6.7(i)-1(onal budget )6(rev)7.3(e)3.6(nue )6(will be generated by rai)5(s)]TJ
21.8623 0 TD
[(ing the VAT )6(rat)6.6(e)-2.5( from 20% to 23% and slashi)4.9(ng )]TJ
-21.8623 -1.3952 TD
-0.0228 Tc
0.0803 Tw
[(ta)-5.6(x co)-5.6(ncess)-7.8(i)1.8(ons)-7.8(. Cor)-7.2(por)-7.2(a)-5.6(t)3.5(e )-6(ta)-5.6(x w)-7.2(i)-4.2(ll b)-5.6(e)0.4( r)-7.2(a)0.4(ise)-5.6(d)0.4( )-6(fr)-7.2(om 16)-5.6(% )-6(to )-6(19)-5.6(%. C)-7.2(han)-5.6(ges)-7.8( in )-6(go)-5.6(vern)-5.6(me)-5.6(n)-5.6(t)3.5( sp)-5.6(end)-5.6(in)-5.6(g)-11.6( )]TJ
T*
-0.0219 Tc
0.0495 Tw
[(w)-6.3(i)2.7(ll impinge)-4.7( in p)-4.7(a)1.3(r)-6.3(t)-1.6( )6(o)-4.7(n)-4.7( )6(soc)-6.9(i)2.7(a)-4.7(l)2.7( a)-4.7(n)1.3(d)-4.7( )6(w)-6.3(e)1.3(lfare)-4.7( )6(e)-4.7(x)-0.9(pen)-4.7(diture)-4.7( )6(with)-4.7( th)-4.7(e)-4.7( )6(pu)-4.7(rpose)-4.7( to)-4.7( )6(make)-4.7( th)-4.7(em mo)-4.7(re)-4.7( foc)-6.9(u)1.3(se)-4.7(d )]TJ
0 -1.4012 TD
-0.018 Tc
0.0515 Tw
[(on t)8.3(h)5.2(e )5.9(re)5.2(al)6.6(ly )5.9(ne)5.2(e)5.2(d)-0.8(y )5.9(re)5.2(cipi)6.6(e)5.2(n)-0.8(t)8.3(s)-3(. F)6(o)5.2(r t)8.3(he )5.9(re)5.2(ci)6.6(pi)6.6(e)5.2(n)-0.8(t)8.3(s)-3(, th)5.2(o)5.2(s)3(e t)8.3(r)-2.4(a)5.2(n)5.2(s)-3(f)8.3(e)-0.8(rs )5.9(wil)6.6(l)0.6( b)5.2(e)-0.8( )5.9(ad)5.2(de)5.2(d t)8.3(o)-0.8( )5.9(oth)5.2(e)5.2(r)-2.4( i)6.6(n)5.2(com)6.6(e)-0.8( )5.9(an)5.2(d )]TJ
0 -1.3952 TD
-0.0188 Tc
0.0284 Tw
[(taxe)4.4(d a)4.4(cco)4.4(rd)4.4(i)5.8(n)-1.6(g)4.4(l)-0.2(y. In th)4.4(e co)4.4(urse of t)7.5(h)-1.6(i)5.8(s)-3.8( p)4.4(r)2.8(o)4.4(c)-3.8(e)4.4(s)2.2(s, )6(ho)4.4(wev)8.1(e)-1.6(r, the )6(po)4.4(siti)5.8(o)4.4(n)-1.6( of th)4.4(o)4.4(s)-3.8(e i)5.8(n)-1.6( t)7.5(he l)5.8(o)4.4(we)4.4(st i)5.8(n)4.4(co)4.4(me)-7.6( )]TJ
T*
-0.0197 Tc
-0.0066 Tw
[(group will not worsen. )-6( )]TJ
0 -1.4012 TD
0 Tc
0 Tw
( )Tj
0 -1.3952 TD
-0.0186 Tc
0.0641 Tw
[(Besi)6(des curbi)6(ng )]TJ
7.2036 0 TD
-0.0188 Tc
0.0643 Tw
[(recessi)5.8(o)4.4(n, the gov)8.1(ernm)5.8(ent )-6(will hav)8.1(e )-6(ot)7.5(her )]TJ
18.2934 0 TD
-0.0193 Tc
0.0708 Tw
[(headaches thi)5.3(s)-4.3( year. T)4.7(he I)7(M)-0.7(F )6(st)7(and-by )]TJ
-25.497 -1.3952 TD
-0.0185 Tc
0.1898 Tw
[(ag)4.7(ree)4.7(m)6.1(ent )6(ex)8.4(pi)6.1(re)4.7(s i)6.1(n)-1.3( M)6.1(a)4.7(rch 2)4.7(0)-1.3(1)4.7(0)-1.3(, by )6(whi)6.1(c)2.5(h tim)6.1(e)-1.3( at t)7.8(he l)6.1(a)-1.3(t)7.8(e)4.7(st Hu)4.7(n)4.7(g)-1.3(a)4.7(r)-2.9(y m)6.1(u)4.7(st h)4.7(a)4.7(v)2.5(e se)4.7(cure)4.7(d the)-7.3( )]TJ
0 -1.4012 TD
-0.0229 Tc
0.0085 Tw
[(e)-5.7(x)-1.9(tern)-5.7(al fin)-5.7(anc)-7.9(ing)-5.7( req)-5.7(u)0.3(ir)-7.3(ed)-5.7( to)-5.7( )5.9(s)-7.9(e)0.3(r)-7.3(v)-1.9(ice)-5.7( th)-5.7(e )5.9(p)-5.7(u)0.3(b)-5.7(lic)-7.9( deb)-5.7(t. Th)-5.7(e)-5.7( )5.9(qu)-5.7(es)-7.9(tion)-5.7( is wh)-5.7(en)-5.7( )5.9(w)-7.3(i)1.7(ll th)-5.7(e)-5.7( )5.9(g)-5.7(o)-5.7(v)4(er)-7.3(nme)-5.7(n)-5.7(t)-2.6( )5.9(be)-5.7( in)-5.7( )]TJ
0 -1.3952 TD
-0.0227 Tc
0.2718 Tw
[(a)-5.5( pos)-7.7(ition)-5.5( to s)-7.7(t)3.6(ar)-7.1(t issu)-5.5(in)-5.5(g n)-5.5(e)0.5(w go)-5.5(ve)-5.5(rnmen)-5.5(t)-2.4( )6(b)-5.5(onds)-7.7( )6(o)-5.5(n)0.5(ce)-5.5( )6(a)-5.5(g)0.5(a)-5.5(i)1.9(n)-5.5( )6( a)-5.5(n)0.5(d)-5.5( )6(on)-5.5( )6(w)-7.1(hat ter)-7.1(m)1.9(s)-7.7(.)-2.4( )6(Ano)-5.5(t)3.6(h)-5.5(e)0.5(r)-7.1( )]TJ
T*
-0.0224 Tc
0.1098 Tw
[(impor)-6.8(ta)-5.2(n)-5.2(t)-2.1( )6(iss)-7.4(u)0.8(e)-5.2( is)-7.4( to)-5.2( )6(e)-5.2(n)0.8(sur)-6.8(e)0.8( th)-5.2(e )6(c)-7.4(o)0.8(n)-5.2(t)-2.1(inu)-5.2(ous)-7.4( fin)-5.2(anc)-7.4(ing)-5.2( of th)-5.2(e )6(c)-7.4(o)0.8(rp)-5.2(ora)-5.2(t)3.9(e)-5.2( )6(s)-7.4(e)0.8(c)-7.4(t)3.9(or)-6.8(. )6(T)-4.4(h)0.8(is w)-6.8(i)2.2(ll )6(n)-5.2(e)0.8(cess)-7.4(itate )]TJ
0 -1.4012 TD
-0.0222 Tc
0.0737 Tw
[(su)-5(ffic)-7.2(i)2.4(en)-5(t forex liqu)-5(i)2.4(d)-5(i)-3.6(ty )6(o)-5(f)-1.9( th)-5(e)-5( )6(Hu)-5(ngar)-6.6(ian b)-5(anks)-7.2(.)-1.9( Th)-5(is)-7.2( )6(w)-6.6(i)2.4(ll be)-5( lar)-6.6(g)1(e)-5(l)-3.6(y d)-5(e)-5(t)4.1(er)-6.6(mine)-5(d)-5( )6(by th)-5(e)-5( )6(b)-5(eha)-5(viou)-5(r)-6.6( )6(o)-5(f)-1.9( )]TJ
0 -1.3952 TD
-0.0182 Tc
0.0098 Tw
[(fo)5(rei)6.4(g)5(n mo)5(th)5(e)5(r)-2.6( co)5(mp)5(a)5(n)-1(ie)5(s )6(\(80% )6(of th)5(e ba)5(n)5(k)2.8(s a)5(r)-2.6(e f)8.1(o)-1(rei)6.4(g)5(n o)5(w)3.4(ne)5(d)5(\))-2.6(, av)8.7(a)5(ila)5(bi)6.4(lity of )6(re)5(so)5(urce)5(s f)8.1(r)-2.6(o)5(m)0.4( ot)8.1(h)5(e)-1(r )]TJ
T*
-0.0226 Tc
0.4094 Tw
[(in)-5.4(te)-5.4(rna)-5.4(t)-2.3(io)-5.4(na)-5.4(l )6(cr)-7(ed)-5.4(itors)-7.6( )6(a)-5.4(nd the)-5.4( )5.9(c)-7.6(e)0.6(n)-5.4(t)3.7(ra)-5.4(l ba)-5.4(nks)-7.6( ab)-5.4(ility to)-5.4( )5.9(se)-5.4(t )5.9(co)-5.4(nd)-5.4(itions)-7.6( )6(w)-7(h)0.6(ic)-7.6(h he)-5.4(lp)-5.4( ease)-5.4( )5.9(th)-5.4(e )]TJ
0 -1.4012 TD
-0.0181 Tc
0.0097 Tw
[(bott)8.2(l)0.5(e)5.1(n)5.1(e)5.1(cks. A po)5.1(ssi)6.5(b)-0.9(l)6.5(e)-0.9( fai)6.5(l)0.5(u)5.1(r)3.5(e in th)5.1(i)6.5(s)-3.1( fie)5.1(l)0.5(d p)5.1(o)5.1(s)-3.1(e)5.1(s)-3.1( o)5.1(n)5.1(e)-0.9( of th)5.1(e ma)5.1(in )6(ri)6.5(sks f)8.2(o)-0.9(r )6(a d)5.1(e)-0.9(e)5.1(p)-0.9(e)5.1(r)-2.5( t)8.2(h)5.1(an t)8.2(he )6(cu)5.1(rrent)8.2(l)6.5(y)-3.1( )]TJ
0 -1.3952 TD
-0.0216 Tc
-0.0047 Tw
[(for)-6(e)1.6(cas)-6.6(t)-1.3( r)-6(e)1.6(cess)-6.6(ion. )]TJ
T*
0 Tc
0 Tw
( )Tj
0 -1.4012 TD
-0.0227 Tc
0.1221 Tw
[(In)-5.5( ord)-5.5(e)0.5(r)-7.1( to)-5.5( fo)-5.5(llow)-7.1( )6(w)-7.1(o)0.5(r)-7.1(l)1.9(d-w)-7.1(i)1.9(de)-5.5( tren)-5.5(ds)-7.7( )6(o)-5.5(f)-2.4( low)-7.1( po)-5.5(lic)-7.7(y in)-5.5(teres)-7.7(t)-2.4( ra)-5.5(tes)-7.7( an)-5.5(d d)-5.5(e)0.5(p)-5.5(a)0.5(r)-7.1(t)-2.4( fr)-7.1(om th)-5.5(e)-5.5( )6(cu)-5.5(rren)-5.5(t)-2.4(ly ve)-5.5(r)-7.1(y)-1.7( )]TJ
0 -1.3952 TD
0.2299 Tw
[(h)-5.5(i)1.9(g)-5.5(h)-5.5( )6(re)-5.5(al in)-5.5(ter)-7.1(e)0.5(st ra)-5.5(tes)-7.7(,)-2.4( the)-5.5( Mo)-5.5(ne)-5.5(tar)-7.1(y)-1.7( )6(Co)-5.5(unc)-7.7(il has)-7.7( )6(a)-5.5(l)1.9(r)-7.1(ead)-5.5(y beg)-5.5(un)-5.5( its)-7.7( )6(c)-7.7(y)4.2(c)-7.7(l)1.9(e)-5.5( )6(o)-5.5(f)3.6( in)-5.5(te)-5.5(res)-7.7(t)-2.3( )6(ra)-5.5(te cu)-5.5(ts)-7.7( )]TJ
T*
-0.0183 Tc
0.1057 Tw
[(foll)6.3(o)4.9(w)-2.7(i)6.3(ng t)8(h)4.9(e 30)4.9(0 b)4.9(a)4.9(s)-3.3(i)6.3(s)-3.3( )6(po)4.9(i)6.3(n)-1.1(t in)4.9(crea)4.9(se i)6.3(n)4.9( Oct)8(o)4.9(be)4.9(r )6(20)4.9(0)4.9(8)-1.1(. T)5.7(he )6(prim)6.3(e )6(ra)4.9(te, )5.9(ho)4.9(weve)4.9(r, is )6(stil)6.3(l ve)4.9(ry h)4.9(i)0.3(g)4.9(h)-7.1( )]TJ
0 -1.4012 TD
-0.0229 Tc
0.1582 Tw
[(\()-7.3(9)0.3(.5)-5.7(% in the)-5.7( th)-5.7(ir)-7.3(d )5.9(w)-7.3(eak)-7.9( )5.9(o)-5.7(f)-2.6( )5.9(F)-4.9(ebr)-7.3(uar)-7.3(y\))-7.3(. In)-5.7( )5.9(th)-5.7(e ver)-7.3(y)-1.9( firs)-7.9(t )5.9(d)-5.7(a)-5.7(y)4(s o)-5.7(f)-2.6( )5.9(Fe)-5.7(bru)-5.7(a)0.3(r)-7.3(y)-1.9(, the)-5.7( fo)-5.7(rint e)-5.7(x)4(ch)-5.7(an)-5.7(ge)-5.7( )5.9(rate)-5.7( )]TJ
0 -1.3952 TD
-0.0226 Tc
0.3076 Tw
[(d)-5.4(r)-1(op)-5.4(ped)-5.4( to)-5.4( )5.9(30)-5.4(0)-5.4( )311.3(HUF)-4.6(/EUR)-7(, in )5.9(c)-7.6(once)-5.4(r)-1(t )5.9(w)-7(i)-4(th)-5.4( the)-5.4( )5.9(we)-5.4(ake)-5.4(n)0.6(ing)-5.4( )5.9(o)-5.4(f)-2.3( the reg)-5.4(i)-4(on)-5.4(s o)-5.4(t)3.7(he)-5.4(r )5.9(cu)-5.4(rre)-5.4(ncies)-7.6(.)3.7( A )]TJ
T*
-0.0182 Tc
0.0218 Tw
[(pe)5(rma)5(n)5(ent)8.1(ly wea)5(k)-3.2( f)8.1(o)-1(rint m)6.4(i)6.4(ght )6(he)5(lp th)5(e e)5(x)2.8(po)5(rt)8.1(e)5(r)3.4(s of p)5(r)3.4(od)5(u)5(c)-3.2(t)8.1(s)-3.2( )6(wit)8.1(h)-1( re)5(lativ)8.7(e)-1(ly l)6.4(o)5(w im)6.4(po)5(rt )6(co)5(nt)8.1(ent, y)8.7(e)-1(t it )]TJ
0 -1.4012 TD
-0.0226 Tc
0.0382 Tw
[(wo)-5.4(uld)-5.4( imp)-5.4(ose ino)-5.4(r)-1(d)-5.4(i)2(na)-5.4(tely on)-5.4( those)-5.4( ho)-5.4(useh)-5.4(olds)-7.6( )6(w)-7(i)-4(th)-5.4( fore)-5.4(ig)-5.4(n)-5.4( )6(cur)-7(r)-1(enc)-7.6(y )6(d)-5.4(e)0.6(b)-5.4(t)3.7(s)-7.6( )6(o)-5.4(w)-1(ing)-5.4( to)-5.4( the)-5.4( lar)-7(g)0.6(e)-5.4( deb)-5.4(t-)]TJ
0 -1.3952 TD
-0.0183 Tc
-0.002 Tw
[(serv)8.6(i)6.3(c)-3.3(i)6.3(ng )6(b)4.9(u)4.9(r)-2.7(d)4.9(en )6(in f)8(o)4.9(ri)6.3(nt te)4.9(rm)6.3(s. )]TJ
T*
0 Tc
0 Tw
( )Tj
0 -1.4012 TD
-0.0181 Tc
0.0157 Tw
[(Th)5.1(e )-6(f)8.2(o)-0.9(re)5.1(ca)5.1(st)8.2(s fo)5.1(r )-6(2)5.1(0)5.1(10 a)5.1(nd eve)5.1(n)-0.9( mo)5.1(re so)5.1( )-6(fo)5.1(r )-6(2)5.1(0)5.1(11 a)5.1(r)-2.5(e ext)8.2(r)-2.5(e)5.1(m)0.5(e)5.1(l)0.5(y )-6(u)5.1(n)5.1(c)2.9(ertai)6.5(n)-0.9(. 20)5.1(1)5.1(0)-0.9( )-6(i)6.5(s)2.9( )-6(an el)6.5(e)5.1(c)-3.1(ti)6.5(o)5.1(n)-0.9( )-6(y)8.8(e)-0.9(a)5.1(r)3.5( )]TJ
0 -1.3952 TD
-0.0223 Tc
0.002 Tw
[(in)-5.1( Hu)-5.1(nga)-5.1(r)-6.7(y)-1.3(; )-5.9(this)-7.3( usu)-5.1(a)0.9(lly b)-5.1(ears)-7.3( d)-5.1(e)-5.1(t)4(rime)-5.1(n)-5.1(t)4(a)-5.1(l)-3.7( co)-5.1(nseq)-5.1(uenc)-7.3(es)-7.3( )-5.9(for)-6.7( )-5.9(the)-5.1( b)-5.1(udge)-5.1(t. )-5.9(Th)-5.1(is)-7.3( )-5.9(time)-5.1(, )-5.9(th)-5.1(e)-5.1( con)-5.1(d)0.9(itio)-5.1(ns)-7.3( se)-5.1(t )]TJ
T*
-0.022 Tc
0.3969 Tw
[(b)-4.8(y)-1( the)-4.8( IMF)-4( )6(w)-6.4(i)2.6(ll hop)-4.8(e)-4.8(f)4.3(u)-4.8(l)2.6(ly n)-4.8(o)-4.8(t)-1.7( )6(pe)-4.8(rmit )6(a)-4.8(n)-4.8(y)-1( )6(new)-6.4( fisca)-4.8(l )6(esc)-7(a)1.2(p)-4.8(ades. Un)-4.8(der)-6.4( fa)-4.8(vou)-4.8(r)-0.4(ab)-4.8(le)-4.8( e)-4.8(x)-1(ter)-6.4(n)1.2(a)-4.8(l)-3.4( )]TJ
0 -1.4012 TD
-0.0222 Tc
0.0677 Tw
[(c)-7.2(i)2.4(rcu)-5(m)2.4(s)-7.2(t)4.1(anc)-7.2(es, )-6(mo)-5(des)-7.2(t econ)-5(omic )-6(grow)-6.6(th ma)-5(y )-6(be)-5( rec)-7.2(o)1(rd)-5(ed)-5(, bas)-7.2(ed)-5( on)-5( a)-5( sligh)-5(t)4.1( )-6(e)-5(x)4.7(pa)-5(nsion)-5( in )-6(each)-5( o)-5(f)-1.9( )]TJ
0 -1.3952 TD
-0.0186 Tc
0.106 Tw
[(the )6(ma)4.6(in )5.9(com)6(p)-1.4(o)4.6(n)4.6(ent)7.7(s )5.9(of t)7.7(h)4.6(e G)4.7(D)-3(P. )6(Alt)7.7(h)-1.4(o)4.6(u)-1.4(g)4.6(h)-1.4( it i)6(s)-3.6( )6(a)4.6(ssu)4.6(me)4.6(d th)4.6(at )5.9(g)4.6(r)-3(o)4.6(w)-3(t)7.7(h)-1.4( )5.9(wil)6(l)0( a)4.6(ccel)6(e)-1.4(rat)7.7(e)-1.4( i)6(n)-1.4( 2)4.6(0)4.6(11,)7.7( the)4.6( )]TJ
T*
-0.0225 Tc
0.0022 Tw
[(co)-5.3(un)-5.3(tr)-6.9(y )6(w)-6.9(i)-3.9(ll not re)-5.3(turn)-5.3( to)-5.3( the)-5.3( )6(4)-5.3(%)-1.6( grow)-6.9(th)-5.3( pa)-5.3(th)]TJ
18.5749 0 TD
-0.0197 Tc
-0.0066 Tw
[( )-6(that )-6(it left in 2007 )]TJ
7.7186 0 TD
-0.0005 Tw
[(in that y)7.1(e)-2.6(ar )6(eit)6.5(h)-2.6(er. )]TJ
-26.2934 -1.4012 TD
0 Tc
0 Tw
( )Tj
ET
endstream
endobj
24 0 obj
<<
/Font <<
/TT2 32 0 R
/TT4 33 0 R
/TT6 34 0 R
/TT8 35 0 R
>>
/ProcSet [/PDF /Text]
/ExtGState <<
/GS1 37 0 R
>>
/ColorSpace <<
/Cs6 38 0 R
>>
>>
endobj
25 0 obj
<<
/Width 74
/Filter [/ASCII85Decode /FlateDecode]
/Height 105
/Length 553
/ColorSpace 31 0 R
/BitsPerComponent 8
>>
stream
8;Z\7=d$]G#j(>mTA7I/X^#G7>uB+%Z"'ZRf9I%fjFITF;B$Q^_iK-SjW6O)eE0hP
T'%8HVV80Q!i\',DQk7=T(#/q^%9%k2\8?.^t$R^oRlq1q$Ut73Sl?:N93Z>&NVD"A
r(e
endstream
endobj
26 0 obj
<<
/Length 21220
>>
stream
BT
/TT2 1 Tf
10.98 0 0 10.98 90.42 783.5603 Tm
/Cs6 cs 0.66 0.668 0.68 scn
/GS1 gs
0 Tc
0 Tw
( )Tj
12 0 0 12 114.66 782.6603 Tm
0.0072 Tc
[(wi)10(i)15(w)]TJ
/TT4 1 Tf
0 0 0 scn
2.115 0 TD
0 Tc
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 352.68 783.5603 Tm
0.66 0.668 0.68 scn
( )Tj
-23.8852 -1.3497 TD
( )Tj
10.02 0 0 10.02 114.66 769.7603 Tm
0.0003 Tc
-0.0027 Tw
[(Curre)5.6(nt Anal)8.7(y)11.5(ses and Forecas)5.6(ts | )]TJ
/TT4 1 Tf
16.1437 0 TD
0.0001 Tc
-0.0025 Tw
[(Fe)5.4(b)5.4(r)-2.2(ua)5.4(ry 2009)]TJ
/TT2 1 Tf
6.491 0 TD
0 Tc
0 Tw
( )Tj
ET
0.754 0.754 0.754 scn
84.36 763.34 30.3 -0.48 re
f
113.94 763.34 233.4 -0.48 re
f
346.62 763.34 163.74 -0.48 re
f
BT
/TT6 1 Tf
10.02 0 0 10.02 85.08 753.6803 Tm
0 0 0 scn
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
0 -61.9102 TD
( )Tj
0 -1.1497 TD
( )Tj
0 -1.1437 TD
( )Tj
/TT2 1 Tf
10.98 0 0 10.98 85.08 73.2803 Tm
0.754 0.754 0.754 scn
(4)Tj
/TT6 1 Tf
7.98 0 0 7.98 91.2 73.2803 Tm
0 0 0 scn
( )Tj
ET
0.754 0.754 0.754 scn
83.58 85.04 428.28 -0.48 re
f
q
1 i
94.68 795.62 13.8 -17.46 re
W* n
q
13.6781 0 0 17.28 94.86 778.4003 cm
/Im2 Do
Q
Q
BT
10.02 0 0 10.02 108.42 778.4003 Tm
0 0 0 scn
( )Tj
/TT4 1 Tf
7.98 0 0 7.98 85.08 720.9803 Tm
-0.0221 Tc
-0.0001 Tw
[(Table H)8.3(U)0.8( )]TJ
/TT2 1 Tf
9 0 0 9 216.36 709.2203 Tm
-0.0219 Tc
0.0041 Tw
[(Hu)-4.4(ng)-4.4(ary)7.6(:)-2.2( Se)7.6(le)7.6(cted Econo)-4.4(m)7.3(i)2.6(c Ind)-4.4(i)-4.1(ca)7.6(to)-4.4(rs )]TJ
/TT4 1 Tf
7.02 0 0 7.02 238.02 687.9803 Tm
0 Tc
0 Tw
( )Tj
/TT2 1 Tf
1.8889 0 TD
-0.0006 Tc
[(2003)-1897.4(2004)-1897.4(2005)-1897.4(2006)-1897.4(2007)-1897.4(2008)]TJ
4.5 0 0 4.5 414.3 691.4603 Tm
0.0021 Tc
(1\) )Tj
7.02 0 0 7.02 436.02 687.9803 Tm
-0.0006 Tc
1.6202 Tw
[(2009 2010 )-8.5(2011)]TJ
/TT4 1 Tf
-28.2051 -1.2564 TD
0 Tc
0 Tw
( )Tj
/TT2 1 Tf
6.3675 0 TD
3.8418 Tc
( )Tj
/TT4 1 Tf
4.5 0 0 4.5 418.5 682.6403 Tm
0 Tc
( )Tj
/TT2 1 Tf
7.02 0 0 7.02 447.96 679.1603 Tm
-0.0001 Tc
0.0043 Tw
[( )8.5( )8.5( Forecas)9(t )]TJ
/TT4 1 Tf
-51.4103 -2.1111 TD
-0.0002 Tc
[(Populati)8.3(on, th pe)8.9(rs., av)12.6(er)]TJ
11.0855 0 TD
[(age )-8683.8(10129.6)-503.9(10107.1)-503.9(10087.)]TJ
22.2137 0 TD
0.0002 Tc
0 Tw
[(1)-503.5(10071.4)-503.5(10055.8)-503.5(10037.6)]TJ
4.5 0 0 4.5 422.76 667.8203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 664.3403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1026 TD
-0.0006 Tc
0.0048 Tw
[(Gross )8.5(domesti)7.9(c pr)7.6(o)8.5(duct, HUF bn, nom)11.9(. )]TJ
4.5 0 0 4.5 210.36 653.0603 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 241.5 649.5803 Tm
0.0002 Tc
[(18914.9)-503.5(20695.4)-503.5(21997.4)]TJ
12.359 0 TD
0 Tc
[(23785.2)-503.7(25419.2)-1341.3(26800)]TJ
4.5 0 0 4.5 414.3 653.0603 Tm
( )Tj
7.02 0 0 7.02 432.12 649.5803 Tm
-0.0006 Tc
1.0646 Tw
[(26400 27600 )-8.6(29300)]TJ
-49.1538 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% \(real)8.3(\) )]TJ
4.5 0 0 4.5 170.76 644.2403 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 257.1 640.7603 Tm
0.003 Tc
[(4.2)-2722.9(4)3.6(.8)-2722.9(4.0)-2722.9(4)3.6(.1)-2722.9(1.1)-2722.9(0)3.6(.3)]TJ
4.5 0 0 4.5 414.3 644.2403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 445.38 640.7603 Tm
0.0004 Tc
2.4483 Tw
[(-3 1.4 )-846.1(3)]TJ
-51.0427 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[(GDP/capita)8.9( \(EUR )8.5(a)8.9(t)-4.4( ex)12.6(change)8.9( ra)8.9(te\))8( )-6982.9(7400)-1897(8100)-1897(8800)-1897(8900)-1341.5(10100)-1341.5(10600)]TJ
4.5 0 0 4.5 414.3 635.4203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 631.9403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2479 TD
-0.0003 Tc
0.0045 Tw
[(GDP/capita)8.8( \(EUR )8.5(a)8.8(t)-4.5( P)8.6(PP\) )-10743.6(13100)-1341.6(13700)-1341.6(14200)-1341.6(15000)-1341.6(15600)-1341.6(15700)]TJ
4.5 0 0 4.5 414.3 626.6603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 623.1803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
0.0001 Tc
0.0041 Tw
[(Consumptio)9.2(n o)9.2(f)-4.1( )8.5(ho)9.2(usehold)9.2(s)4.4(, HUF bn)9.2(, )8.5(nom. )]TJ
4.5 0 0 4.5 223.26 611.8403 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 241.5 608.3604 Tm
0.0002 Tc
[(10232.2)-503.5(10965.8)-503.5(11764.0)-503.5(12384.4)-503.5(13263.7)-3836.8(.)]TJ
4.5 0 0 4.5 414.3 611.8403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 608.3604 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% \(real)8.3(\) )]TJ
4.5 0 0 4.5 170.76 603.0203 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 257.1 599.5403 Tm
0.0028 Tc
[(8.3)-2723.1(2)3.4(.5)-2723.1(3.4)-2723.1(1)3.4(.9)-2723.1(0.7)-3560.7(0)]TJ
4.5 0 0 4.5 414.3 603.0203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 439.5 599.5403 Tm
0.0007 Tc
2.448 Tw
[(-3.5 0.5 )-846.1(2)]TJ
-50.2051 -1.2479 TD
0.0001 Tc
0.0041 Tw
[(Gross )8.5(fix)12.9(ed ca)9.2(pital)8.6( )8.5(form., HUF b)9.2(n)0.7(, no)9.2(m. )]TJ
4.5 0 0 4.5 211.98 594.2603 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 245.4 590.7803 Tm
0.0004 Tc
[(4163.5)-1058.8(4649.4)-1058.8(5173.5)-1058.8(5130.8)-1058.8(5343.7)-3836.6(.)]TJ
4.5 0 0 4.5 414.3 594.2603 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 590.7803 Tm
0.0042 Tc
3.5556 Tw
(. . )Tj
-51.6496 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% \(real)8.3(\) )]TJ
4.5 0 0 4.5 170.76 585.4403 Tm
0.0021 Tc
0 Tw
(2\) )Tj
7.02 0 0 7.02 257.1 581.9603 Tm
0.0026 Tc
[(2.2)-2723.3(7)3.2(.9)-2723.3(8.5)-2390(-)2.3(6.2)-2723.3(1)3.2(.5)-2390(-2.5)]TJ
4.5 0 0 4.5 414.3 585.4403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 445.38 581.9603 Tm
-0.0004 Tc
3.2867 Tw
[(-5 2 )-8.5(5)]TJ
-51.0427 -2.1111 TD
0.0004 Tc
0.0038 Tw
[(Gross )8.5(indu)9.5(stria)9.5(l)0.3( pr)8.6(o)9.5(duction )]TJ
4.5 0 0 4.5 414.3 570.6204 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 451.62 567.1403 Tm
3.8418 Tc
( )Tj
-51.9316 -1.2479 TD
0.0007 Tc
0.0035 Tw
[( annual)9.2( )8.5(change)9.8( in )8.5(% \(real)9.2(\) )-12008.6(6.4)-2725.2(7)1.3(.4)-2725.2(6.9)-2169.6(10.0)-2725.2(8)1.3(.2)-2391.9(-1.1)]TJ
4.5 0 0 4.5 422.76 561.8604 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 445.38 558.3803 Tm
-0.0004 Tc
3.2867 Tw
[(-5 4 )-8.5(8)]TJ
-51.0427 -1.2564 TD
0.0005 Tc
-0.0048 Tw
[(Gross agri)9(c)-3.8(ultu)9.6(ral p)9.6(r)0.2(oduction)9.6( )-8.5( )]TJ
4.5 0 0 4.5 414.3 553.0403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 451.62 549.5603 Tm
3.8418 Tc
( )Tj
-51.9316 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% \(real)8.3(\) )]TJ
23.8889 0 TD
0.0014 Tc
0 Tw
[(-7.1)-2168.9(24.1)-2391.2(-)1.1(7.1)-2391.2(-)1.1(2.9)-1835.6(-)1.1(11.3)-2168.9(26.2)]TJ
4.5 0 0 4.5 414.3 544.2203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 441.48 540.7404 Tm
-0.0005 Tc
3.2868 Tw
[(-10 0 )-8.5(2)]TJ
-50.4872 -1.2479 TD
0.0004 Tc
0.0038 Tw
[(Constr)8.6(uction)9.5( indu)9.5(stry)13.2( \(build.& )8.5(civ)13.2(il engi)8.9(n.\) )]TJ
4.5 0 0 4.5 414.3 535.4603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 451.62 531.9803 Tm
3.8418 Tc
( )Tj
-51.9316 -1.2564 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% \(real)8.3(\) )]TJ
11.9316 0 TD
0.0018 Tc
12.011 Tw
[( 1.9)-2724.1(5)2.4(.8)-2168.5(16.1)-2390.8(-)1.5(1.5)-1835.2(-)1.5(14.7)-2390.8(-)1.5(5.1)]TJ
4.5 0 0 4.5 414.3 526.6403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 447.72 523.1603 Tm
-0.0006 Tc
3.2869 Tw
[(0 4 )547(10)]TJ
-51.3761 -2.1111 TD
-0.001 Tc
0.0052 Tw
[(Employ)11.8(ed person)8.1(s)-5.3( )8.5(- LFS, )8.5(th, av)]TJ
13.9658 0 TD
-0.0001 Tc
-0.0042 Tw
[(erage )-5487.2(3921.9)-1059.3(3900.4)-1059.3(3901.)]TJ
19.3333 0 TD
0.0004 Tc
0 Tw
[(5)-1058.8(3930.0)-1058.8(3926.2)-1058.8(3879.4)]TJ
4.5 0 0 4.5 414.3 511.8203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 508.3403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2479 TD
-0.0002 Tc
0.0044 Tw
[( annual)8.3( )8.5(change)8.9( in )8.5(% )-14615.4(1.)]TJ
25.0598 0 TD
0.0023 Tc
0 Tw
[(3)-2390.3(-)2(0.5)-2723.6(0)2.9(.0)-2723.6(0.7)-2390.3(-)2(0.1)-2390.3(-)2(1.2)]TJ
4.5 0 0 4.5 414.3 503.0603 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 499.5803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.0001 Tc
0.0041 Tw
[(Unemploy)12.9(ed perso)9.2(ns )8.5(- LFS)9(,)-4.1( )8.5(th)9.2(, av)]TJ
15.1282 0 TD
0 Tc
[(erage )-4863.3(244.5)-1614.8(252.9)-1614.8(302.)]TJ
18.1709 0 TD
0.0006 Tc
0 Tw
[(2)-1614.2(316.7)-1614.2(312.0)-1614.2(329.2)]TJ
4.5 0 0 4.5 414.3 494.2403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 490.7603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0 Tc
0.0042 Tw
[(Unemploy)12.8(ment rate)9.1( - LFS)8.9(,)4.3( in )]TJ
13.0256 0 TD
0.0014 Tc
0.0028 Tw
[(%, av)14.2(erage )-5589.8(5.9)-2724.5(6)2(.1)-2724.5(7.2)-2724.5(7)2(.5)-2724.5(7.4)-2724.5(7)2(.8)]TJ
4.5 0 0 4.5 414.3 485.4203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 447.72 481.9403 Tm
0.0002 Tc
2.4485 Tw
[(9 8.8 )-846.1(8)]TJ
-51.3761 -1.2479 TD
0.0007 Tc
0.0035 Tw
[(Reg. un)9.8(employ)13.5(men)-7.2(t)-3.5( ra)9.8(te)9.8(, i)9.2(n)1.3( %)9.5(,)5( end )8.5(of )8.5(period )-3863.3(8.3)-2725.2(9)1.3(.1)-2725.2(9.3)-2725.2(9)1.3(.1)-2169.6(10.1)-2169.6(10.2)]TJ
4.5 0 0 4.5 414.3 476.6603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 473.1803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
-0.0002 Tc
0.0044 Tw
[(Av)12.6(erage gross mon)8.9(t)-4.4(hly)12.6( w)12.6(ages, HUF )]TJ
4.5 0 0 4.5 201.12 461.8403 Tm
0.0021 Tc
0 Tw
(3\) )Tj
7.02 0 0 7.02 243.48 458.3603 Tm
-0.0006 Tc
[(137187)-786.3(145520)-786.3(158343)-786.3(171351)-786.3(185017)-786.3(200000)]TJ
4.5 0 0 4.5 422.76 461.8403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 458.3603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.0003 Tc
0.0039 Tw
[( annual)8.8( )8.5(change)9.4( in )8.5(% \(real)8.8(, net\) )-10068.4(9.2)-2392.3(-)0(1.0)-2725.6(6)0.9(.3)-2725.6(3.5)-2392.3(-)0(4.6)-2725.6(1)0.9(.0)]TJ
4.5 0 0 4.5 422.76 453.0203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 449.5403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1026 TD
-0.001 Tc
0.0052 Tw
[(Consumer )8.5(prices \()7.2(H)3.2(ICP\), % )]TJ
12.5812 0 TD
0.0029 Tc
0.0013 Tw
[(p.a)12(.)-1.3( )-9410.3(4.7)-2723(6)3.5(.8)-2723(3.5)-2723(4)3.5(.0)-2723(7.9)-2723(6)3.5(.0)]TJ
4.5 0 0 4.5 414.3 438.2603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 447.72 434.7803 Tm
-0.0006 Tc
3.2869 Tw
[(3 3 )-8.5(3)]TJ
-51.3761 -1.2564 TD
0.0016 Tc
0.0026 Tw
[(Produce)10.7(r)1.3( pr)9.8(ice)10.7(s)5.9( in i)10.1(ndustry)14.4(,)-2.6( % )8.5(p.a)10.7(.)-2.6( )-8461.6(2.4)-2724.3(3)2.2(.5)-2724.3(4.7)-2724.3(6)2.2(.5)-2724.3(1.9)-2724.3(5)2.2(.6)]TJ
4.5 0 0 4.5 422.76 429.4403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 425.9603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
-0.0002 Tc
0.0044 Tw
[(General)8.3( gov)12.6(ernm.budget)]TJ
11.0342 0 TD
-0.0001 Tc
[(, EU-d)9(ef., %)8.7( )8.5(GDP )]TJ
4.5 0 0 4.5 221.34 414.6203 Tm
0.0021 Tc
0 Tw
(4\) )Tj
42.88 0 TD
0 Tc
( )Tj
7.02 0 0 7.02 451.62 411.1403 Tm
3.8418 Tc
( )Tj
-51.9316 -1.2479 TD
0.0004 Tc
0.0038 Tw
[( Rev)13.2(enues )-18333.3(42.0)-2169.9(42.)]TJ
29.1795 0 TD
0.001 Tc
0 Tw
[(6)-2169.3(42.3)-2169.3(42.6)-2169.3(44.9)-2169.3(45.8)]TJ
4.5 0 0 4.5 414.3 405.8603 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 402.3803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.001 Tc
0.0032 Tw
[( Ex)13.8(penditure)10.1(s )-17000(49.1)-2169.3(48.9)-2169.3(50.1)-2169.3(51.9)-2169.3(49.8)-2169.3(48.9)]TJ
4.5 0 0 4.5 414.3 397.0403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 393.5603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.0008 Tc
0.0034 Tw
[( Net lending)9.9( \(+\))9( / n)9.9(e)1.4(t b)9.9(o)1.4(rrow)13.6(i)0.7(ng \(-\))9( )-8333.4(-7.2)-2391.8(-6.4)-2391.8(-7.8)-2391.8(-9.3)-2391.8(-4.9)-2391.8(-3.1)]TJ
4.5 0 0 4.5 414.3 388.2203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 439.5 384.7403 Tm
0.0012 Tc
2.1141 Tw
[(-2.9 -2.7 )-8.6(-2.3)]TJ
-50.2051 -1.2479 TD
0.0014 Tc
0.0028 Tw
[(Public)5.7( deb)10.5(t,)5.7( EU)5.6(-de)10.5(f)5.7(.,)5.7( i)9.9(n)2( %)10.2( o)10.5(f)-2.8( )8.5(GD)5.6(P)]TJ
4.5 0 0 4.5 193.68 379.4603 Tm
0.0021 Tc
0.0001 Tw
( 4\) )Tj
7.02 0 0 7.02 253.2 375.9803 Tm
0.001 Tc
0 Tw
[(58.0)-2169.3(59.4)-2169.3(61.7)-2169.3(65.6)-2169.3(65.8)-3836(.)]TJ
4.5 0 0 4.5 414.3 379.4603 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 375.9803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
0.0011 Tc
0.0031 Tw
[(Base)10.2( ra)10.2(te o)10.2(f)5.4( NB, %)9.9( p.a)10.2(.)5.4(, en)10.2(d o)10.2(f)-3.1( )8.5(period)10.2( )8.5( )-6316.3(12.5)-2724.8(9)1.7(.5)-2724.8(6.0)-2724.8(8)1.7(.0)-2724.8(7.5)-2169.2(10.0)]TJ
4.5 0 0 4.5 414.3 364.6403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 361.1603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
-0.001 Tc
0.0052 Tw
[(Current accoun)8.1(t, E)7.9(UR mn )]TJ
4.5 0 0 4.5 169.2 349.8203 Tm
0.0021 Tc
0 Tw
(5\) )Tj
7.02 0 0 7.02 243.06 346.3403 Tm
0.0001 Tc
[(-5933.0)-725.8(-)-0.2(7078.0)-725.8(-)-0.2(6655.)]TJ
11.0769 0 TD
[(0)-725.8(-)-0.2(6857.0)-725.8(-)-0.2(6307.0)-1563.4(-)-0.2(6500)]TJ
4.5 0 0 4.5 414.3 349.8203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 433.68 346.3403 Tm
-0.0004 Tc
1.2867 Tw
[(-4500 -5500 )-8.5(-5700)]TJ
-49.3761 -1.2479 TD
-0.0007 Tc
0.0049 Tw
[(Current accoun)8.4(t in )8.5(% o)8.4(f)-4.9( GD)]TJ
12.2051 0 TD
0.002 Tc
0.0022 Tw
[(P)10.9( )-10461.6(-8.0)-2390.6(-8.6)-2390.6(-7.5)-2390.6(-7.6)-2390.6(-6.2)-2390.6(-6.1)]TJ
4.5 0 0 4.5 422.76 341.0604 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 439.5 337.5804 Tm
0.0012 Tc
2.1141 Tw
[(-4.9 -5.5 )-8.6(-5.1)]TJ
-50.2051 -1.2564 TD
0 Tc
0.0042 Tw
[(Ex)12.8(ports o)9.1(f)-4.2( g)9.1(ood)9.1(s, B)8.9(O)0.1(P, EUR mn )]TJ
4.5 0 0 4.5 190.56 332.2404 Tm
0.0021 Tc
0 Tw
(5\) )Tj
7.02 0 0 7.02 241.5 328.7603 Tm
0.0002 Tc
[(37906.9)-503.5(44506.7)-503.5(49672.3)]TJ
12.359 0 TD
0 Tc
[(58381.0)-503.7(68371.0)-1341.3(72800)]TJ
4.5 0 0 4.5 414.3 332.2404 Tm
( )Tj
7.02 0 0 7.02 432.12 328.7603 Tm
-0.0006 Tc
1.0646 Tw
[(71300 74900 )-8.6(82400)]TJ
-49.1538 -1.2564 TD
0.0011 Tc
0.0031 Tw
[( annual)9.6( grow)13.9(th r)9.3(a)1.7(te)10.2( in )8.5(% )-12897.5(2.9)-2169.2(17.4)-2169.2(11.6)-2169.2(17.5)-2169.2(17.1)-2724.8(6)1.7(.5)]TJ
4.5 0 0 4.5 414.3 323.4203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 445.38 319.9403 Tm
-0.0005 Tc
3.2868 Tw
[(-2 5 )547(10)]TJ
-51.0427 -1.2479 TD
-0.0011 Tc
0.0053 Tw
[(Imports of good)8(s, B)7.8(O)-1(P, EUR mn )]TJ
4.5 0 0 4.5 190.2 314.6603 Tm
0.0021 Tc
0 Tw
(5\) )Tj
7.02 0 0 7.02 241.5 311.1804 Tm
0.0002 Tc
[(40804.5)-503.5(47369.2)-503.5(51882.4)]TJ
12.359 0 TD
0 Tc
[(60433.0)-503.7(68051.0)-1341.3(71790)]TJ
4.5 0 0 4.5 414.3 314.6603 Tm
( )Tj
7.02 0 0 7.02 432.12 311.1804 Tm
-0.0006 Tc
1.0646 Tw
[(69600 72700 )-8.6(80000)]TJ
-49.1538 -1.2564 TD
0.0013 Tc
0.0029 Tw
[( annual)9.8( grow)14.1(th r)9.5(a)1.9(te)10.4( in )8.5(% )-12897.5(4.6)-2169(16.1)-2724.6(9)1.9(.5)-2169(16.5)-2169(12.6)-2724.6(5)1.9(.5)]TJ
4.5 0 0 4.5 414.3 305.8403 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 445.38 302.3604 Tm
0.0001 Tc
2.4486 Tw
[(-3 4.5 )-290.6(10)]TJ
-51.0427 -1.2564 TD
-0.0006 Tc
0.0048 Tw
[(Ex)12.2(ports o)8.5(f)-4.8( )8.5(serv)12.2(ice)8.5(s)-4.9(, BOP)8.3(,)-4.8( )8.5(EUR mn )]TJ
4.5 0 0 4.5 197.22 297.0204 Tm
-0.0095 Tc
0 Tw
[(5\))-9.8( )]TJ
7.02 0 0 7.02 245.4 293.5403 Tm
0.0003 Tc
[(8122.5)-1058.9(8671.5)-503.4(10351.2)]TJ
11.8034 0 TD
0 Tc
[(10626.0)-503.7(12443.0)-1341.3(13640)]TJ
4.5 0 0 4.5 414.3 297.0204 Tm
( )Tj
7.02 0 0 7.02 432.12 293.5403 Tm
-0.0006 Tc
1.0646 Tw
[(13400 14100 )-8.6(15200)]TJ
-49.1538 -1.2479 TD
0.0014 Tc
0.0028 Tw
[( annual)9.9( grow)14.2(th r)9.6(a)2(te)10.5( in )8.5(% )-12897.5(3.9)-2724.5(6)2(.8)-2168.9(19.4)-2724.5(2)2(.7)-2168.9(17.1)-2724.5(9)2(.6)]TJ
4.5 0 0 4.5 414.3 288.2603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 445.38 284.7803 Tm
-0.0004 Tc
3.2867 Tw
[(-2 5 )-8.5(8)]TJ
-51.0427 -1.2564 TD
-0.0027 Tc
0.0069 Tw
[(I)-6.9(m)1.2(ports of )8.5(s)-7(e)-2.1(rv)10.1(ic)-7(es, BOP,)-6.9( )8.5(EUR mn )]TJ
4.5 0 0 4.5 196.8 279.4404 Tm
-0.0095 Tc
0 Tw
[(5\))-9.8( )]TJ
7.02 0 0 7.02 245.4 275.9603 Tm
0.0002 Tc
[(8074.6)-1059(8187.7)-1059(9218.7)-1059(9376.0)-503.5(11392.0)-1341.1(12540)]TJ
4.5 0 0 4.5 414.3 279.4404 Tm
0 Tc
( )Tj
7.02 0 0 7.02 432.12 275.9603 Tm
-0.0006 Tc
1.0646 Tw
[(12300 12900 )-8.6(13900)]TJ
-49.1538 -1.2564 TD
0.0012 Tc
0.003 Tw
[( annual)9.7( grow)14(th r)9.4(a)1.8(te)10.3( in )8.5(% )-12341.9(11.6)-2724.7(1)1.8(.4)-2169.1(12.6)-2724.7(1)1.8(.7)-2169.1(21.5)-2169.1(10.1)]TJ
4.5 0 0 4.5 414.3 270.6204 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 445.38 267.1404 Tm
-0.0004 Tc
3.2867 Tw
[(-2 5 )-8.5(8)]TJ
-51.0427 -1.2479 TD
0.0016 Tc
0.0026 Tw
[(F)5.6(D)5.8(I inf)5.9(l)1.5(ow)14.4(, EU)5.8(R)5.8( m)14.1(n)2.2( )]TJ
4.5 0 0 4.5 150.48 261.8604 Tm
0.0021 Tc
0 Tw
(5\) )Tj
7.02 0 0 7.02 245.4 258.3803 Tm
0.0003 Tc
[(1887.5)-1058.9(3633.3)-1058.9(6172.1)-503.4(15991.0)-503.4(34515.0)-3836.7(.)]TJ
4.5 0 0 4.5 414.3 261.8604 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 258.3803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.0015 Tc
0.0027 Tw
[(F)5.5(D)5.7(I out)5.8(flow)14.3(, EU)5.7(R)5.7( )8.5(m)5.4(n)2.1( )]TJ
4.5 0 0 4.5 154.8 253.0403 Tm
0.0021 Tc
0 Tw
(5\) )Tj
7.02 0 0 7.02 245.4 249.5603 Tm
0.0003 Tc
[(1463.3)-1614.5(892.1)-1058.9(1755.5)-503.4(15031.0)-503.4(31254.0)-3836.7(.)]TJ
4.5 0 0 4.5 414.3 253.0403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 249.5603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
0.0003 Tc
0.0039 Tw
[(FDI inflow)13.1(, ex)13.1(cl. S)9.2(P)9.2(E)0.6(, )8.5(EUR mn )-8359(1887.5)-1058.9(3633.3)-1058.9(6172.1)-1058.9(6024.0)-1058.9(4372.8)-1896.5(2500)]TJ
4.5 0 0 4.5 414.3 244.2203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 436.02 240.7403 Tm
-0.0006 Tc
1.6202 Tw
[(1500 2500 )-8.5(3500)]TJ
-49.7094 -1.2479 TD
-0.0005 Tc
0.0047 Tw
[(FDI outflow)12.3(, ex)12.3(cl. S)8.4(PE, EUR )]TJ
12.8633 0 TD
0.0002 Tc
0.004 Tw
[(mn )-7743.6(1463.4)-1614.6(892.1)-1059(1755.5)-1059(3126.3)-1059(2764.8)-2452.2(500)]TJ
4.5 0 0 4.5 414.3 235.4603 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 439.92 231.9803 Tm
-0.0006 Tc
2.1758 Tw
[(300 500 )547.1(1000)]TJ
-50.265 -2.1111 TD
-0.0003 Tc
0.0045 Tw
[(Gross )8.5(reserv)12.5(es of )8.5(NB, ex)12.5(cl. gold)8.8(,)-4.5( )]TJ
14.8547 0 TD
-0.0006 Tc
0.0048 Tw
[(EUR mn )-2812(10098.0)-504.3(11669.0)]TJ
15.3846 0 TD
0.0002 Tc
0 Tw
[(15669.7)-503.5(16383.5)-503.5(16305.2)-503.5(23979.0)]TJ
4.5 0 0 4.5 414.3 220.6404 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 217.1603 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2564 TD
-0.0003 Tc
0.0045 Tw
[(Gross )8.5(ex)12.5(ternal deb)8.8(t, EUR mn)]TJ
13.0256 0 TD
0.0002 Tc
0.004 Tw
[( )-8410.3(46041.1)-503.5(55150.1)-503.5(66607.8)-503.5(81428.1)-503.5(98265.9)-785.5(122000)]TJ
4.5 0 0 4.5 414.3 211.8203 Tm
0 Tc
0 Tw
( )Tj
7.02 0 0 7.02 449.64 208.3403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -1.2479 TD
-0.0001 Tc
0.0043 Tw
[(Gross )8.5(ex)12.7(ternal deb)9(t in )8.5(% o)9(f)4.2( )]TJ
12.3077 0 TD
[(GDP )-8632.5(63.9)-2170.4(65.5)-2170.4(76.)]TJ
20.9914 0 TD
0.0008 Tc
0 Tw
[(6)-2169.5(86.2)-2169.5(98.1)-1614(120.7)]TJ
4.5 0 0 4.5 414.3 203.0603 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 199.5803 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
-51.6496 -2.1111 TD
-0.0004 Tc
0.0046 Tw
[(Av)12.4(erage ex)12.4(change )8.5(rate)8.7( HUF/EUR )]TJ
22.5556 0 TD
0.0002 Tc
0 Tw
[(253.62)-1059(251.66)-1059(248.05)]TJ
12.359 0 TD
[(264.26)-1059(251.35)-1059(251.51)]TJ
4.5 0 0 4.5 414.3 188.2403 Tm
0 Tc
( )Tj
7.02 0 0 7.02 439.92 184.7603 Tm
-0.0006 Tc
2.1758 Tw
[(290 275 )-8.5(260)]TJ
-50.265 -1.2564 TD
0.0001 Tc
0.0041 Tw
[(Purcha)9.2(sing)9.2( pow)12.9(er )8.5(parity)12.9( HUF/E)]TJ
13.9658 0 TD
-0.0007 Tc
0.0049 Tw
[(UR )-6589.8(142.58)-1059.9(149.88)-1059.9(153.)]TJ
18.7778 0 TD
0.0001 Tc
0 Tw
[(53)-1059.1(157.23)-1059.1(162.20)-1059.1(170.23)]TJ
4.5 0 0 4.5 414.3 179.4203 Tm
0 Tc
( )Tj
7.02 0 0 7.02 449.64 175.9403 Tm
0.0042 Tc
3.5556 Tw
[(. . )-8.5(.)]TJ
/TT8 1 Tf
-51.9316 -2.2479 TD
-0.0302 Tc
0 Tw
(Note: )Tj
/TT4 1 Tf
2.4957 0 TD
-0.0228 Tc
0.0014 Tw
[(T)6.8(h)12(e)12( )8.6(ter)11.1(m)15.3( i)11.3(nd)12(u)12(s)7.1(try)15.7()11.3( r)11.1(e)12(fe)12(r)11.1(s)-1.4( )8.6(t)7.2(o)12( N)7.1(A)3.2(C)15.6(E)11.7( )8.6(cl)11.3(a)12(s)7.1(si)11.3(f)7.2(i)11.3(ca)12(ti)11.3(on)12( C)15.6(+)5.6(D)7.1(+)5.6(E)11.7(.)-1.4( )]TJ
-2.4957 -1.8291 TD
-0.0259 Tc
0.013 Tw
[(1\) P)8.6(r)-0.6(e)8.9(lim)12.2(in)8.9(ary)12.6( and w)12.5(iiw)12.5( estima)8.9(te)8.9(s. - 2)8.9(\))-0.6( A)8.6(c)4(co)8.9(rd)8.9(in)8.9(g )8.5(to E)8.6(S)0.1(A)8.6(')2.6(95 )8.5(\(F)12.3(IS)8.6(IM ad)8.9(ju)8.9(sted a)8.9(nd )8.5(re)8.9(al )8.5(ch)8.9(an)8.9(ge b)8.9(a)8.9(s)-4.5(e)8.9(d)0.3( o)8.9(n)0.3( prev)12.6(io)8.9(u)8.9(s)-4.5( y)12.6(ear p)8.9(r)-0.6(i)8.2(c)4(e)8.9(s)-4.5(\))8(.)-4.5( - )8.5(3)]TJ
53.3675 0 TD
-0.0256 Tc
0.0042 Tw
[(\) En)9.2(te)9.2(rp)9.2(ri)8.5(se)9.2(s )-8.5(w)12.8(i)0(th)9.2( )]TJ
-53.3675 -1.3932 TD
-0.0329 Tc
0.0029 Tw
[(m)-3.3(o)-6.7(re)-6.7( th)-6.7(an )-8.6(5 )-8.6(em)-3.3(p)-6.7(l)1.2(o)-6.7(y)5.6(e)-6.7(e)1.9(s. )-8.6(- 4)-6.7(\))1( Acc)-11.5(o)-6.7(rd)-6.7(in)-6.7(g to)-6.7( E)-6.9(S)1.6(A)-6.9(')-4.4(95, )-8.6(e)-6.7(x)5.6(cess)-11.5(i)-7.3(v)5.6(e )-8.6(def)-11.5(ici)-7.3(t)]TJ
27.7949 0 TD
-0.034 Tc
0.004 Tw
[( p)-7.8(r)-0.1(oc)-12.6(ed)-7.8(ur)-8.7(e. )-8.6(- 5\))-8.7( )-8.6(Fr)-8.7(om)-4.4( 2)-7.8(0)0.8(0)-7.8(6)0.8( i)-8.4(n)0.8(c)-12.6(l)0.1(u)-7.8(d)0.8(i)-8.4(n)0.8(g)-7.8( S)-8(pec)-12.6(ia)-7.8(l P)-8(u)-7.8(rp)-7.8(ose )-8.6(En)-7.8(tit)-12.6(i)0.1(es)]TJ
25.4786 0 TD
-0.0336 Tc
0.0036 Tw
[( \()-8.3(SPE)-7.6(\).)-12.2( )]TJ
/TT8 1 Tf
-53.2735 -1.5727 TD
0.0012 Tc
0 Tw
[(Source)10.3(:)]TJ
/TT4 1 Tf
3.4359 0 TD
0.0004 Tc
0.0038 Tw
[( w)13.2(i)0.3(i)-8.2(w)13.2( Database )8.5(inco)9.5(rpora)9.5(t)-3.8(ing)9.5( E)9.3(u)1(rostat and)]TJ
18.6838 0 TD
0 Tc
0.0042 Tw
[( na)9.1(tiona)9.1(l sta)9.1(t)-4.2(isti)8.5(cs. Foreca)9.1(sts by)12.8( w)12.8(i)-0.1(i)-8.6(w)12.8(.)]TJ
10.02 0 0 10.02 356.64 126.5003 Tm
0 Tw
( )Tj
ET
endstream
endobj
27 0 obj
<<
/Font <<
/TT2 32 0 R
/TT4 33 0 R
/TT6 34 0 R
/TT8 35 0 R
>>
/ProcSet [/PDF /Text /ImageC /ImageI]
/XObject <<
/Im2 40 0 R
>>
/ExtGState <<
/GS1 37 0 R
>>
/ColorSpace <<
/Cs6 38 0 R
/Cs11 41 0 R
>>
>>
endobj
28 0 obj
<<
/R 42 0 R
/W [0 3]
/MB [0 0 595 842]
/JTF 0
>>
endobj
29 0 obj
<<
/CP (Distiller)
/Fi 43 0 R
>>
endobj
30 0 obj
<<
/Dm [595 842 595 842]
>>
endobj
31 0 obj
[/Indexed /DeviceRGB 255 44 0 R]
endobj
32 0 obj
<<
/Type /Font
/Widths [278 0 0 0 0 0 0 0 0 333 0 0 0 333 0 0
556 556 556 556 556 556 556 556 556 556 333 0 0 0 0 0
0 722 0 722 0 667 611 0 722 278 0 0 0 0 0 0
0 0 0 667 611 722 0 0 0 0 0 0 0 0 0 0
0 556 611 556 611 556 0 611 611 278 0 0 278 889 611 611
611 0 389 556 333 611 0 778 0 556 0 0 280]
/Subtype /TrueType
/BaseFont /DOJNGH+Arial,Bold
/Encoding /WinAnsiEncoding
/LastChar 124
/FirstChar 32
/FontDescriptor 45 0 R
>>
endobj
33 0 obj
<<
/Type /Font
/Widths [278 0 0 0 0 889 667 191 333 333 0 584 278 333 278 278
556 556 556 556 556 556 556 556 556 556 278 278 0 0 0 0
0 667 667 722 722 667 611 778 722 278 0 0 556 833 722 778
667 0 722 667 611 722 667 944 0 0 0 0 0 0 0 0
0 556 556 500 556 556 278 556 556 222 222 500 222 833 556 556
556 556 333 500 278 556 500 722 500 500 500 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 222 222 0 0 0 556]
/Subtype /TrueType
/BaseFont /DOJNGJ+Arial
/Encoding /WinAnsiEncoding
/LastChar 150
/FirstChar 32
/FontDescriptor 46 0 R
>>
endobj
34 0 obj
<<
/Type /Font
/Widths [250]
/Subtype /TrueType
/BaseFont /DOJNIL+TimesNewRoman
/Encoding /WinAnsiEncoding
/LastChar 32
/FirstChar 32
/FontDescriptor 47 0 R
>>
endobj
35 0 obj
<<
/Type /Font
/Widths [278 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 278 0 0 0 0 0
0 0 0 0 0 0 0 0 0 278 0 0 0 0 722 0
0 0 722 667 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 500 556 556 0 0 556 222 0 0 0 0 556 556
0 0 333 0 278 556 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 556]
/Subtype /TrueType
/BaseFont /DOJNIN+Arial,Italic
/Encoding /WinAnsiEncoding
/LastChar 225
/FirstChar 32
/FontDescriptor 48 0 R
>>
endobj
36 0 obj
<<
/Type /XObject
/Width 334
/Filter [/FlateDecode]
/Height 293
/Length 26036
/Subtype /Image
/ColorSpace 39 0 R
/BitsPerComponent 8
>>
stream
HWv۸=$@.MiyMk[p"b.̽4m]alZĀ!t~
xJzSk
},i:ߑ\mP:ߘvQiw]Gw_Bpw/6_t_% ,EF ,`ҧ][Vhҫ/~zY/~\MՃ'= N#+>6m$fv8|f;(8G}l{RBuCGAEe0^PvXQP,
5Ӣg%S,I)4Ս
%mщ<>g=`,2P]rx]4BF$8y+d,b7e3wO0 Kq Ujg;.R