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OECD is also examining the Hungarian economic policy

Both the government and the Organisation for Economic Co-operation and Development (OECD) want to strengthen financial stabilisation, predictability, debt relief, economic growth and improve employment and and effectivness of health care, the effectiveness as priorities in Hungary - said Zoltán Cséfalvay on Tuesday, State Secratery of National Economy Ministry for Economy Strategy concerning with the upcoming report on the country, at the international organisation's headquarter in Paris.

17 January 2012

OECD is also examining the Hungarian economic policy

The OECD Economic and Development Review Committee (EDRC) is expected to publish in late February / early March


The OECD Economic and Development Review Committee (EDRC) is expected to publish in late February / early March, its economic survay of the Hungarian economic policy. In every 18-24 months, OECD's country reports focus on conditions and opportunties of permanent improvement of economic performance, as well as macroeconomic trends and evaluation of structural policies are discussed. OECD Report of Hungary was issued in February 2010 last time.

OECD review the questions essantially in professional aspectEDRC meeting

Draft of economic survay - discussed today - was carried out by the experts of OECD Secretariat regarding Hungary. In addition to the Secretariat and the 16-people Hungarian delegation, representatives of all OECD member countries, European Commission and International Monetary Fund (IMF) were participated on the EDRC meeting. The examination of fiscal developments including macro-economic analysis as well as labour market policies and health care issues will also be carried out in the next country report.

Professional aspect

Zoltán Cséfalvay said he definitely welcomes country report, because "a very wide range of news" in connection with economic policy of Hungary is published while OECD review the questions essantially in professional aspect. "This is an excellent opportunity to share data and evidence-based policy of the Hungarian economy to formulate an opinion about, and discuss policy options" - stressed the State Secretary.

Transition effects

According to Zoltán Cséfalvy, one of the main agenda of the meeting is what steps (with rules, institutions, or reforms) can strengthen the confidence against Hungary. The participants have discussed how to manage difficulties of transition effects of adopted single/flat tax rate regime, the role and its right of Fiscal Council and Hungarian debt brake in the Constitution - which is about debt relief particularly concerning multi-formulated expectation in the EU, but the most countries of EU have notapplied the method yet - as the State Secretary pointed out.

 

Outlook for growth and analysis of other indicators has been completed by OECD

Outlook for growth and analysis of other indicators has been completed by OECD


Expert meetings in 2011

State Secretary said the outlook for growth and analysis of other indicators has been completed by OECD. Currently, the Hungarian government keeps them informed about accepted legal and institutional changes in the last as well as some more recent key data of Hungarian economy.

OECD experts visited Hungary twice during eight months in preparation for country report:

- 14-17 June 2011 expert meeting for information-gathering purposes

- 2-4 November 2011 expert meeting on November 2-4. expert meeting to disucuss preliminary recommendations with Hungarian top executives, government and independent experts too.


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