| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 266 final (13.5.15) |
| Publication Date | 13/05/2015 |
| Content Type | Policy-making |
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On 8 July 2014, the Council adopted a recommendation on Hungary’s national reform programme for 2014 and delivered its opinion on Hungary’s updated convergence programme for 2014. On 28 November 2014, the Commission adopted the Annual Growth Survey, marking the start of the 2015 European Semester of economic policy coordination. On the same day, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Hungary as one of the Member States for which an in-depth review would be carried out. On 26 February 2015, the Commission published its 2015 country report for Hungary. This assessed Hungary’s progress in addressing the country-specific recommendations adopted on 8 July 2014. The country report also includes results of the in-depth review. The Commission’s analysis leads it to conclude that Hungary is experiencing macroeconomic imbalances which require decisive policy action and monitoring. Attention should be given, in particular, to the risks stemming from the net international position (which, despite some progress in the rebalancing of external accounts, is still highly negative), the high level of public debt, the significant regulatory burden on the financial sector and the high level of non-performing loans, which make deleveraging difficult. On 30 April 2015, Hungary submitted its 2015 national reform programme and its 2015 convergence programme. To take account of their interlinkages, the two programmes have been assessed at the same time. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:266:FIN |
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| Countries / Regions | Hungary |
