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Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
English, , 113kb
This note, taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2009, contains information about the progress in implementing reforms in line with the 2008 priorities for Hungary.
The crisis made international financial assistance inevitable. It has at the same time provided an opportunity to implement substantial reforms.…
The fiscal deficit has been gradually brought down even in the midst of a deep recession, pro-cyclical fiscal tightening continued. Fiscal sustainability is aimed to be restored by the recent reforms.
Education outcomes need to improve to enhance long-term growth. This could be achieved by encouraging children from disadvantaged backgrounds to spend more time in pre-school...
The crisis exposed weaknesses in the Hungarian financial system that pose risks to financial stability. A major lesson learnt from the crisis is that the approach to household lending should change: a stronger protection of borrowers should be combined with a tighter regulation of lenders.
This working paper looks at how to shift the policy focus towards reconciling work and family life. Reasons for under-provision in childcare by local governments are discussed and recommendations for further central-government intervention to improve supply are made.
This working paper looks at the challenges facing Hungary's counties and municipalities in modernising local infrastructures as well as dealing with cutbacks to administrative overheads and tough decisions in public services.
English, , 253kb
Budget consolidation is dominating the political agenda. The Hungarian government has embarked on an ambitious four-year consolidation programme following another election-year peak in the deficit in 2006 at 9.2% of GDP. The immediate revenue increases and spending cuts are temporarily damping growth. However, if all goes according to plan, the programme will bring dividends to the economy in the longer term. This payoff is crucially
The main economic challenge is ensuring implementation of the ambitious fiscal consolidation programme through budgetary discipline and structural reform in central and local government. Challenges also remain in raising the low employment rate.