Inflation Rather Than Austerity – Hungary’s Economic Strategy
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PETER MIHALYI
Articles from this author:
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Health Care in the Czech Republic, Hungary and Poland – the medium term fiscal aspects
The paper provides perspective of recent developments in health care reforms in three fast-reforming transition economies: the Czech Republic, Hungary and Poland. The two former countries have been implementing reforms since early 1990s, while Poland started its reform on January 1, 1999 only. But the reforms are not over: in all three countries further changes … Continued
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Health Care in the Czech Republic, Hungary and Poland – the medium term fiscal aspects
“Since 1968, subsequent Hungarian governments have been less resilient to moderate inflation than others in the region. After the 1989-1990 market transition, inflation targeting became an even more important short-term policy tool. Since hyper-inflation was not allowed to gain momentum, there was no need to resort to fully-fledged currency reform. Instead, Hungarian governments have been ready to accept extra-inflation as an unavoidable price for reducing the fiscal deficit, choosing against Maastricht inflation targeting and economic coordination with Brussels.”
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