OECD ECONOMIC SURVEYS : hungary 2021.

Description

Table of contents Basic statistics of Hungary, 2020 Executive summary The recovery is gathering pace Strengthen skills and mobility for a more inclusive labour market Stronger business dynamics and more competitive markets are crucial for higher productivity growth 1 Key Policy Insights Leaving the crisis behind The severe pandemic is countered by strong health measures Economic prospects are improving Growth is accelerating Monetary policy has become more supportive Financial risks require monitoring Embracing innovation in the financial sector Adopting a forward-looking and greener fiscal policy Fiscal policy will remain supportive over the near term Steps to address long-term fiscal challenges will be needed Promoting more environmentally sustainable growth Better aligned environmental policies would be more effective Renewable energy promotion could be improved Waste and wastewater treatments lack effectiveness Better financial disclosure of environmental risks would promote sustainable investments Stronger domestic business dynamism is crucial for higher productivity growth Corruption and lack of public integrity hamper business dynamism An inclusive and mobile labour market is key for sustained growth Improving geographical labour mobility Strengthening female labour force participation References 2 Fostering productivity for a stronger and sustained recovery Low productivity undermines income convergence and future living standards Support skills and mobility to raise labour productivity and facilitate structural change Equip students with the skills demanded in the labour market Strengthen skills and work experience in vocational education and training Improve generic skills in higher education Improve labour mobility Ensure a prudent minimum wage policy to support mobility Promote dynamic and competitive product markets Ease market entry and exit in service and network industries Strengthen the competition framework Embrace e-government solutions for business and public procurement Strengthen equity-based funding Improve the quality of local infrastructure Promote digital adoption References