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Hungary - Industrial Sector Adjustment Loan (English)

The Industrial Sector Adjustment Loan Project will support the Government's program of economic stabilization and structural reform with industrial sector policies being a central part of the policy reforms. The objective of the program is to increase the efficiency and international competitiveness of the industrial sector to enable increased Hungarian exports to the convertible currency markets. Policy reforms being supported by the loan cover : (i) increasing domestic and external competition in the economy, (ii) tightening financial discipline in the enterprise sector, and (iii) facilitating the mobility of capital and labor to enable restructuring of industry. The loan will provide funds to finance general imports of goods.


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    President's Report

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    Europe and Central Asia,

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  • Doc Name

    Hungary - Industrial Sector Adjustment Loan

  • Keywords

    convertible currency;industrial policy reform;industrial sector;access to international capital markets;small and medium enterprise;financial discipline;average exchange rate;financial workouts of enterprise;flexible interest rate policy;taxation of business profits;total factor productivity growth;economic and sector work;economic stabilization and recovery;economic reform;liquidation of state;current account balance;current account deficit;Exchange rate policies;exchange rate policy;household consumption;Tax Reform;public investment program;demand management policy;mobility of capital;variable interest rate;corporate profit tax;value added tax;direct foreign investment;economic reform program;state enterprises;International Trade;foreign trade;domestic demand;social security system;performance and productivity;capital market development;conditions for use;system of price;export promotion program;Innovation and Productivity;government's policy objectives;foreign trade activities;medium term program;efficient resource allocation;financial management capability;macroeconomic policy framework;total wage bill;means of production;world market price;sector specific review;marginal cost pricing;private joint venture;allocation of capital;efficiency of investment;terms of trade;increase in debt;debt service ratio;restrictions on imports;dynamic comparative advantage;foreign trade organizations;balance of payment;import of goods;structure of production;macroeconomic stabilization policy;industrial restructuring program;restructuring of industry;allocation of investment;nuclear power plant;share of investment;road user charge;increase in consumption;domestic pricing system;expansionary fiscal stance;net financial position;exit of enterprise;administrative price setting;personal income tax;market based instrument;consumer subsidy;supply response;wage differentiation;increased competition;fiscal deficit;joint-stock company;commercial bank;wage increase;Energy;international competition;domestic sale;investment operation;supply side;trade balance;bankruptcy legislation;restructuring plan;budget deficit;reform measure;manufacturing industry;fixed investment;reporting requirement;international competitiveness;financial difficulties;export performance;market imperfection;enterprise sector;consumer price;



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Hungary - Industrial Sector Adjustment Loan (English). Washington, D.C. : World Bank Group.