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2010 OECD Economic Outlook, Volume 2010 Issue 1

image of OECD Economic Outlook, Volume 2010 Issue 1

The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2011 for both OECD countries and selected non-OECD economies. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.

In addition to the themes featured regularly, this issue contains three special chapters. The first covers prospects for growth & imbalances beyond the short-term, the second covers return to work after the crisis, and the third examines counter cyclical economic policy.

 

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Hungary

A weak recovery should take place during 2010 as solid growth in external demand more than offsets soft domestic demand. The recovery should gather pace in 2011 as the headwinds from ongoing weakness in the labour market and tight credit conditions ease. Inflation should decline significantly until the end of 2011 as the base effects from last year’s indirect tax increases disappear and large negative unemployment and output gaps are expected to persist for some time.

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