Hungary Economic Snapshot

2 May 2024

Latest Economic Outlook Note – Hungary

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September 2023

Economic Policy Reforms: Going for Growth 2023 - Hungary

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Economic Survey of Hungary (March 2024)

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.

Executive Summary