EU accession in 2004 has confirmed Hungary’s successful transformation from a centrally planned economy into a functioning market economy operating within the framework of a multi-party democracy. However, the country’s output per capita is still ...

Annotation Addresses the challenge Hungary faces in overcoming threatening deficits in its current and fiscal accounts without hampering economic growth. The Hungarian economy is emerging from a severe four-year recession with positive developments on numerous economic fronts, but with major weaknesses remaining because of large current and fiscal account deficits. This book addresses the challenge Hungary faces in overcoming these deficits without hampering economic growth. The report examines the country's macroeconomic performance in the first half of the 1990s and the stabilization package launched in March 1995. It explores the structure of fiscal revenues, pension reform, and enterprise and banking reforms. The study also looks at the impact of structural reforms on future economic growth and at Hungary's bid to integrate with the European Union.

The OECD has faced many challenges in the last 50 years, but perhaps none as great as the current global crisis. Response to the crisis has been swift and massive. But despite some cautious optimism, the immediate future does not offer much relief. The global economic system must undergo many structural changes if we are to avoid a repetition of this scenario. The job ahead is substantial and requires great perseverance. This is a key feature of the OECD , which has consistently worked with governments with a long-term view, to address structural problems through enhanced global co-operation. The crisis has left virtually no area of policy making untouched. It has brought many long-simmering issues, such as tax evasion, income inequality, good governance and competition issues, back to the centre stage. But other substantive, medium and long-term matters, such as climate change and poverty reduction, which were at the forefront of most government agendas only one year ago, are adding to the sense of urgency. This crisis presents opportunities as well as challenges, and the OECD is seizing these opportunities to formulate policies that will lead to a stronger, cleaner, fairer world economy. Over the past year, the OECD has pressed for a "stronger" world economy through its work in areas such as regulation; governance; trade (especially Doha); investment and competition; and, of course, developing policies for sustainable growth. Work on anticorruption, corporate governance and tax evasion has sought to restore trust in globalisation by making it "cleaner". So has, literally, our work on environment and climate change, another face of "cleaner". Finally, our work on employment and social inclusion, education, health care and economic development is key to developing a "fairer", more participative world economy. The OECD is the global standard setter in many of these fields. It helps governments to determine where policy changes are needed and how governments can implement those reforms. It is not surprising that the focus of much of this year's Annual Report is on the Organisation's analysis of and response to the crisis. The OECD 's unique ability to address the complex nature of the global crisis, which affects virtually every aspect of policy making, is presented and developed in the pages that follow. We will continue working with member and non-member countries, as well as with other international organisations, to establish the basis for a better world economy.

OECD's comprehensive review of Hungary's environmental programs and policies, covering air and water management, nature and biodiversity, sustainable development, the environment-economy interface, the environment-social interface, and international commitments.