Template-Type: ReDIF-Article 1.0

Author-Name: György Matolcsy
Author-Workplace-Name: Magyar Nemzeti Bank

Author-Name: Dániel Palotai
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: palotaid@mnb.hu

Title: Hungary Is on the Path to Convergence

Abstract: After 2010, Hungary achieved exceptional economic results both by Hungarian
and international standards, and thus the Hungarian economy has become one of
the growth engines of the European Union. Hungary’s economic policy measures
successfully placed the country on the path to convergence, bringing the country
to the forefront of the European Union in areas such as raising the employment
rate, decreasing unemployment, improving the budget balance and government
debt, and restoring external equilibrium. As a result of this, the Hungarian economy
has sufficient stability and reserves to implement a turnaround in competitiveness,
which may be achieved by targeted measures. This paper reviews Hungary’s
macroeconomic achievements that are outstanding also by international standards
and based on which sustainable convergence of the national economy can be
ensured.

Classification-JEL: E52, E61, E62, O10, O23, O47
Keywords: convergence, sustainability, economic policy, competitiveness
Pages: 5-28
Volume: 18
Issue: 3
Year: 2019
File-URL: http://en-hitelintezetiszemle.mnb.hu/letoltes/fer-18-3-st1-matolcsy-palotai.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:18:y:2019:i:3:p:5-28