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OECD report: Hungary lagging behind

D&T
March 14, 2016

In order to boost employment Hungary should reduce the burden of labour income taxation, especially for low-earners, and devote more funds to human capital and research & development in order to improve its lagging behind developed OECD countries in terms of productivity, the Organisation for Economic Cooperation and Development said in a recently published report (Going for Growth), which has summarised the achievements in the area of previously identified reform priorities, the financial website portfolio.hu reports.

In its Going for Growth Interim Report, OECD shows in a comparative way the key developments in terms of structural reform policies. The report does not contain new recommendations, it only evaluates the reform activities of the previous year.

Portfolio.hu points out that Hungary is in a group with the Czech Republic, Estonia, Israel, Poland and Latvia. OECD said their main challenge is "large productivity gap vis-á-vis advanced OECD countries", whereas their strength are "high cost competitiveness and strong manufacturing base".

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