wiiw Current Analyses and Forecasts
Hungary: Efforts to get released from the excessive deficit procedure
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in: Double-dip Recession over, yet no Boom in Sight
wiiw Current Analyses and Forecasts No. 11, March 2013 , pp. 71-75
The Hungarian economy re-entered recession in 2012; the vision to put the economy to a new
growth path with a growth rate of 5% to 7% has given way to a bitter struggle to keep the general
government deficit below 3% of the GDP in order to get released from the excessive deficit proce-
dure. Despite an improvement in important fiscal indicators, Hungary’s position has remained fragile,
as an important part of the improvement is due to temporary consolidation measures and not to
genuine reforms.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Hungary, Visegrad countries