Hungary 2021 Article Iv Consultation Press Release And Staff Report

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Hungary: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. European Dept.
Hungary 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 54 pages
File Size : 44,7 Mb
Release : 2021-06-29
Category : Business & Economics
ISBN : 9781513584430

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Hungary: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

Hungary’s economy entered the COVID-19 pandemic on a strong footing and the authorities responded swiftly and strongly to the crisis it triggered. While the lockdowns weighed heavily on activity, the fast vaccination pace is allowing an early relaxation of containment measures, and the economy has started to rebound.

Ireland: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. European Dept.
Ireland 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 72 pages
File Size : 51,5 Mb
Release : 2021-06-16
Category : Business & Economics
ISBN : 9781513587233

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Ireland: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

Ireland entered the COVID pandemic with reduced vulnerabilities and high growth, especially in multinational enterprises (MNEs)-dominated sectors. The pandemic has had a highly asymmetric impact on the economy. The domestic sectors contracted by about 10 percent in 2020 and unemployment reached 30 percent at the peak of the first wave, while MNEs continued to grow strongly, driving overall GDP growth to 3.4 percent. A swift policy response has been effective in mitigating the crisis impact and protecting households and firms. The domestic sectors are expected to partially recover in 2021, with GDP growth projected at 4.6 percent. Downside risks stem from uncertainties surrounding new COVID variants, post-Brexit trade arrangements, and likely changes in international taxation.

Romania: 2021 Article IV Consultation-Press Release and Staff Report

International Monetary,International Monetary Fund. European Dept.
Romania 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 74 pages
File Size : 51,7 Mb
Release : 2021-08-27
Category : Business & Economics
ISBN : 9781513594897

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Romania: 2021 Article IV Consultation-Press Release and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.

Cyprus: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. European Dept.
Cyprus 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 82 pages
File Size : 47,9 Mb
Release : 2021-06-16
Category : Business & Economics
ISBN : 9781513587646

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Cyprus: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

The COVID-19 pandemic has interrupted Cyprus’s strong economic growth over the past few years. High dependence on service sectors and strict containment measures led real output to contract by 5.1 percent (yoy) during 2020. Growth is projected to recover to 3 percent in 2021 as the vaccine rollout gathers pace despite the ongoing new wave of infections, but significant downside risks remain, reflecting the high uncertainty of the path of the epidemic.

Greece: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. European Dept.
Greece 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 94 pages
File Size : 43,6 Mb
Release : 2021-07-16
Category : Business & Economics
ISBN : 9781513587837

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Greece: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

Greece entered the pandemic with an unfinished recovery, but the country has demonstrated resilience in facing COVID-19. The economy contracted by 8.2 percent in 2020, better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities. The government provided among the largest on-budget fiscal stimuli in the euro zone and supervisory and ECB accommodation shielded the banking sector and kept financing conditions highly accommodative. Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.

Cambodia: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. Asia and Pacific Dept
Cambodia 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 89 pages
File Size : 43,9 Mb
Release : 2021-12-09
Category : Business & Economics
ISBN : 9781616355944

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Cambodia: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

The rapid spread of the virus in Cambodia during 2021 has set the economy back again, after external demand collapsed in 2020. The authorities responded to the crisis with measures to support households and firms, including increased healthcare spending; a new system of cash transfers to vulnerable households; loans and guarantees; tax breaks; and wage subsidies and retraining. Despite these measures, growth is estimated to have contracted by -3.1 percent in 2020. Growth in 2021 is expected to be 2.2 percent, slowly recovering to pre-crisis rates of around 61⁄2 percent.

Samoa

International Monetary Fund. Asia and Pacific Dept
Samoa Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 107 pages
File Size : 55,6 Mb
Release : 2021-03-19
Category : Business & Economics
ISBN : 9781513574424

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Samoa by International Monetary Fund. Asia and Pacific Dept Pdf

Samoa has shown resilience to past economic shocks, underpinned by the authorities’ strong commitment to support the economy and financial assistance provided by the international community. Samoa was among the first countries in the world to secure its border to protect its citizens from COVID-19. The authorities’ quick response to the measles outbreak and the global pandemic has identified the policy priorities well. The international community also responded swiftly, including the IMF disbursement under the Rapid Credit Facility (RCF) in April 2020 which helped unlock record budget support grants by the Asian Development Bank (ADB) and the World Bank (WB). The authorities strengthened the health care system and provided support to the private sector, with assistance targeted to vulnerable businesses and households to safeguard livelihoods.

Republic of Estonia: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. European Dept.
Republic of Estonia 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 87 pages
File Size : 44,7 Mb
Release : 2021-07-21
Category : Business & Economics
ISBN : 9781513587370

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Republic of Estonia: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

Macroeconomic performance and buffers were strong when the COVID-19 pandemic hit. Economic and social restrictions instituted in March 2020 helped slow new infections and mitigate negative health outcomes but triggered a deep decline in activity in Q2:2020. The slump was followed by a strong rebound in Q3 as the restrictions were eased. With the resurgence of the virus, pressures on the health system peaked in late-March 2021 and eased after a new round of restrictions. Going forward, the outlook is for a near-term economic recovery subject to large two-way risks. The strength and durability of the recovery hinges on the evolution of the health situation and the extent of economic scarring from the pandemic.

Republic of Uzbekistan: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Republic of Uzbekistan 2021 Article IV Consultation Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 84 pages
File Size : 44,7 Mb
Release : 2021-04-26
Category : Business & Economics
ISBN : 9781513572918

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Republic of Uzbekistan: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies. Uzbekistan entered the COVID-19 crisis with relatively strong macro-economic fundamentals.

Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro

International Monetary,International Monetary Fund. European Dept.
Montenegro 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Montenegro Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 76 pages
File Size : 53,7 Mb
Release : 2022-02-24
Category : Business & Economics
ISBN : 9798400201332

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Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro by International Monetary,International Monetary Fund. European Dept. Pdf

COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.

Slovak Republic: 2021 Article IV Consultation-Press Release; Staff Report

International Monetary,International Monetary Fund. European Dept.
Slovak Republic 2021 Article IV Consultation Press Release Staff Report Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 71 pages
File Size : 46,9 Mb
Release : 2021-06-21
Category : Business & Economics
ISBN : 9781513587295

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Slovak Republic: 2021 Article IV Consultation-Press Release; Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

The Slovak Republic faced the pandemic from a position of strength with fiscal space and comfortable banking sector buffers. Effective policy support, through measures aimed at preserving jobs, providing liquidity support, and ensuring credit supply, have limited the economic fallout. Output is expected to reach pre-crisis level before the end of 2021, but uncertainty is high.

Czech Republic: 2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic

International Monetary
Czech Republic 2021 Article IV Consultation Press Release Staff Report Supplementary Information and Statement by the Executive Director for the Czech Republic Book PDF

Author : International Monetary
Publisher : International Monetary Fund
Page : 87 pages
File Size : 50,6 Mb
Release : 2022-01-27
Category : Electronic
ISBN : 9798400200182

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Czech Republic: 2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic by International Monetary Pdf

2021 Article IV Consultation-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for the Czech Republic

Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

International Monetary,International Monetary Fund. Asia and Pacific Dept
Thailand 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Thailand Book PDF

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 104 pages
File Size : 40,5 Mb
Release : 2021-06-03
Category : Business & Economics
ISBN : 9781513573021

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Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.

Norway: 2021 Article IV Consultation-Press Release; Staff Report; and Staff Statement

International Monetary,International Monetary Fund. European Dept.
Norway 2021 Article IV Consultation Press Release Staff Report and Staff Statement Book PDF

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 71 pages
File Size : 48,8 Mb
Release : 2021-06-10
Category : Business & Economics
ISBN : 9781513573120

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Norway: 2021 Article IV Consultation-Press Release; Staff Report; and Staff Statement by International Monetary,International Monetary Fund. European Dept. Pdf

Norway’s key challenge is to get the right balance of support for recovery and adjustment until the crisis is firmly in its past. The authorities intend to continue exceptional policy support into 2021, adjusted to reflect the rebound in economic activity and pace of vaccinations in the second half of the year, and with better targeting to affected sectors. This will support the expected closing of the output gap by 2023 and help mitigate scarring, while also facilitating reallocation of capital and labor.

South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

International Monetary,International Monetary Fund. African Dept.
South Africa 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for South Africa Book PDF

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 127 pages
File Size : 50,6 Mb
Release : 2022-02-11
Category : Business & Economics
ISBN : 9798400200250

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South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa by International Monetary,International Monetary Fund. African Dept. Pdf

South Africa’s subpar economic performance over the last decade has weakened its macroeconomic fundamentals and social indicators. In response to formidable COVID-19-related challenges, government expenditure surged, and, amid declining revenue, the budget deficit widened significantly. The South African Reserve Bank (SARB) and the Prudential Authority (PA) preserved adequate liquidity conditions and financial-sector stability. The cyclical recovery from the deep contraction has been faster than expected but its strength is unlikely to be sustained. Benign global market conditions have supported asset performance, although term premia are elevated due to fiscal risks. Bank soundness indicators remain solid, but a deepening bank-sovereign nexus raises some concerns.