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2007 OECD Economic Outlook, Volume 2007 Issue 1

image of OECD Economic Outlook, Volume 2007 Issue 1
This issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2008. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. Two special reports are included: one covers the effects of globalisation and how to maximise its benefits and minimise its adjustment costs. The second covers fiscal consolidation.

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Hungary

Austerity measures to redress public finances are having a significant impact on the economy. Reflecting weakening domestic demand, activity in 2007 and 2008 is projected to grow at a rate well below its trend (about 4%), despite the strong expansion of exports. After a temporary boost due to changes in value-added taxes and regulated prices, inflation is expected to fall.

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