| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2013) 367 final (29.5.13) |
| Publication Date | 29/05/2013 |
| Content Type | Policy-making |
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On 28 November 2012, the Commission adopted the Annual Growth Survey, marking the start of the 2013 European Semester of economic policy coordination. Also on 28 November 2012, the Commission, on the basis of Regulation (EU) No 1176/2011, 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 10 April 2013, the Commission published the results of its in-depth review for Hungary, under Article 5 of Regulation (EU) No 1176/2011. The Commission’s analysis leads it to conclude that Hungary is experiencing macroeconomic imbalances, which deserve monitoring and require decisive policy action. In particular, the ongoing adjustment of the highly negative net international investment position, largely driven by private sector deleveraging in a context of high general government debt and a weak business environment continues to deserve very close attention so as to reduce the important risks of adverse effects on the functioning of the economy. On 24 April 2013, Hungary submitted its 2013 convergence programme covering the period 2012-2016 and, on 22 April 2013, its 2013 national reform programme. In order 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:2013:367:FIN |
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| Countries / Regions | Hungary |
