02263cas a2200241 a 4500 AALejournalIMF016074 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513521404 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Hungary : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Hungary. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (54 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2019 Article IV Consultation discusses that in an increasingly uncertain global economic environment, Hungary's growth registered one of the highest rates in Europe in 2018. The economy now appears to be running above capacity and wages are growing rapidly amid historically low unemployment. It is thus likely that growth will slow down over the medium term. Supply-side reforms can help sustain the momentum. Policies have reduced vulnerabilities substantially; however, measures to support the targeted fiscal consolidation could be more ambitious to ensure that room for fiscal policy manoeuvre is rebuilt. Wages outstripping labor productivity growth, slower export growth, and shortcomings in the business environment for small and medium enterprises call for invigorating structural reform efforts. Improvements in competitiveness are needed to sustain rapid income convergence and address demographic challenges. The government's competitiveness program contains important elements. Focus should be on improving the business environment, enhancing the legal and regulatory framework, and increasing labor force participation. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/357 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/357/002.2019.issue-357-en.xml IMF e-Library