OECD Economic Surveys : Hungary 2024 / OECD.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Hungary--Economic policy--Periodicals.

Hungary.

Hungary--Economic conditions--Periodicals.

Physical Description:

1 online resource

Other Title:

OECD Economic Surveys

Place of Publication:

Paris : OECD Publishing, 2024.

Summary:

After a strong demand-based recovery following the COVID-19 pandemic, economic activity declined amid high inflation. Growth has restarted in mid-2023 and inflation is receding, but fiscal and monetary policies need to work hand-in-hand to fight remaining inflationary pressures and recreate fiscal space to finance future spending needs. Productivity growth has slowed since the mid-2000s and structural reforms that facilitate new firm entry and exit and a wider take-up of digital tools are needed. Recent reforms to the anti-corruption and public integrity framework will sustain investor confidence if they are fully implemented. Social transfers keep income inequalities and poverty low but should be better targeted to those most in need. Women face large employment and pay gaps compared to men and intergenerational mobility is limited. Further expanding access to childcare facilities for young children and improving the education system would help to address these challenges. Hungary's green transition can build on past progress but needs to accelerate. This will require more electricity supply from low-carbon sources, with price signals acting as a catalyst. Restructuring energy support by moving from price caps to more targeted cash transfers to vulnerable households would strengthen incentives for energy efficiency improvements and reduce fiscal costs.

Contents:

Foreword

Executive summary

1 As macroeconomic challenges recede, policy reforms become key

2 Macroeconomic developments and policy challenges

3 Raising productivity and strengthening institutions

4 Towards more inclusive growth

5 Towards more sustainable growth

Tables

Figures

Boxes.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-37481-7