IMF recommends new policy course for Hungary

According to the International Monetary Fund (IMF), Hungary needs a "new policy course to deliver the required medium-term fiscal adjustment in a sustainable way to support growth and confidence, repair the financial sector, and promote structural reforms to boost the potential of the Hungarian economy."

"Favorable
global market conditions have eased government funding pressures, but the
economic outlook remains difficult. The economy is in the midst of a second
recession in four years with consumption and investment falling and
unemployment remaining stubbornly high," the IMF said in a statement.

"While
the fiscal deficit was reduced significantly in 2012, partly to offset an
earlier loosening, policies to achieve this worsened the investment climate. A
new policy course is needed to deliver the required medium-term fiscal
adjustment in a sustainable way to support growth and confidence, repair the
financial sector, and promote structural reforms to boost the potential of the
Hungarian economy," it added.

(source:
portfolio.hu)