The high level of indebtedness in both the private and public sectors and special taxes have been named as weak points of the Hungarian economy in a European Commission report issued on Wednesday.
Hungary’s current account balance has shown continuous improvement, the report added.
Despite a drop in levels of debt in the private and public sectors, the current level is still high, the report said.
Macroeconomic imbalance continues to exist in Hungary and this requires monitoring and resolute political steps, it added.
The report states that Hungary’s current account balance has shown continuous improvement and stayed positive in the past three years, although as a reason it cited a sudden drop of domestic demand on the back of worsened competitiveness in exports. The external imbalance has also been reduced with net investment to GDP at -103, compared to -117 in 2009, far from critical levels.
MMA countdown – Free Artists welcomes the resigned MMA-members!
TRANSZPARENCIÁT!