{"id":1045194,"date":"2019-03-02T19:38:45","date_gmt":"2019-03-03T00:38:45","guid":{"rendered":"https:\/\/www.bocskairadio.org\/?p=1045194"},"modified":"2019-03-01T19:41:57","modified_gmt":"2019-03-02T00:41:57","slug":"hungary-productivity-gains-modest","status":"publish","type":"post","link":"https:\/\/www.bocskairadio.org\/en\/hungary-productivity-gains-modest\/","title":{"rendered":"Hungary Productivity Gains \u201cModest\u201d"},"content":{"rendered":"

The European Commission (EC) said productivity increases in Hungary have been \u201cmodest\u201d, adding that strong economic growth has created favourable conditions for policies that would support improvements in a country report released on Wednesday.<\/strong><\/p>\n

\u201cProductivity growth has improved, but remains below pre-crisis rates, limiting the possibility for income convergence,\u201d the EC said in the report.<\/p>\n

\n

[Productivity growth] has been slow for a decade compared to Hungary\u2019s regional peers. Large productivity differences persist between larger, more capital-intensive foreign firms, and smaller, more labour-intensive domestic counterparts. Only few firms innovate, reflecting weaknesses in the entrepreneurial culture and product market competition.<\/p>\n<\/blockquote>\n

The EC acknowledged that policy stimulus has supported productivity-enhancing investment, but noted that labour costs continue to outpace productivity growth.<\/p>\n

\u201cIn the course of the last decade, the mobilisation of labour market reserves has helped income per head catch up with the EU average, while output per worker has barely grown,\u201d the EC said.\u00a0As labour reserves have diminished and the working-age population is set to decrease in the medium term, higher productivity is \u201cessential if living standards are to be brought closer to the EU average\u201d, it added.<\/p>\n

The EC said Hungary\u2019s economy is enjoying a \u201cstrong cyclical upswing\u201d, but warned that economic growth is set to level off after pent-up consumption unwinds.<\/p>\n

The external environment is also providing less support to export growth, while the major role played by the car industry creates a vulnerability to trade disputes and to regulatory and technological change.\u201d\u00a0The EC said a big increase in public investment is aggravating capacity shortages in construction, leading to cost overruns and project delays, and contributing to rapid house price increases.<\/p>\n

The EC said Hungary had made \u201climited progress\u201d overall to address 2018 country-specific recommendations. While it acknowledged \u201csome progress\u201d in reducing the complexity of the tax system, cutting the number of fostered workers and reducing the tax burden on pensioners who return to work, it said \u201climited progress\u201d had been made in improving the public procurement framework.<\/p>\n

The EC said \u201cno progress\u201d had been made to address recommendations on reinforcing the anti-corruption framework and strengthening prosecutorial efforts.<\/p>\n

\u201cThe regulatory environment in services has not improved. The quality and transparency of decision making and social dialogue has not advanced,\u201d it added.<\/p>\n

Source:\u00a0https:\/\/hungarytoday.hu\/ec-hungary-productivity-gains-modest\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The European Commission (EC) said productivity increases in Hungary have been \u201cmodest\u201d, adding that strong economic growth has created favourable conditions for policies that would support improvements in a country report released on Wednesday.<\/strong><\/p>\n

\u201cProductivity growth has improved, but remains below pre-crisis rates, limiting the possibility for income convergence,\u201d the EC said in the report.<\/p>\n

\n

[Productivity growth] has been slow for a decade compared to Hungary\u2019s regional peers. Large productivity differences persist between larger, more capital-intensive foreign firms, and smaller, more labour-intensive domestic counterparts. Only few firms innovate, reflecting weaknesses in the entrepreneurial culture and product market competition.<\/p>\n<\/blockquote>\n

The EC acknowledged that policy stimulus has supported productivity-enhancing investment, but noted that labour costs continue to outpace productivity growth.<\/p>\n

\u201cIn the course of the last decade, the mobilisation of labour market reserves has helped income per head catch up with the EU average, while output per worker has barely grown,\u201d the EC said.\u00a0As labour reserves have diminished and the working-age population is set to decrease in the medium term, higher productivity is \u201cessential if living standards are to be brought closer to the EU average\u201d, it added.<\/p>\n

The EC said Hungary\u2019s economy is enjoying a \u201cstrong cyclical upswing\u201d, but warned that economic growth is set to level off after pent-up consumption unwinds.<\/p>\n

The external environment is also providing less support to export growth, while the major role played by the car industry creates a vulnerability to trade disputes and to regulatory and technological change.\u201d\u00a0The EC said a big increase in public investment is aggravating capacity shortages in construction, leading to cost overruns and project delays, and contributing to rapid house price increases.<\/p>\n

The EC said Hungary had made \u201climited progress\u201d overall to address 2018 country-specific recommendations. While it acknowledged \u201csome progress\u201d in reducing the complexity of the tax system, cutting the number of fostered workers and reducing the tax burden on pensioners who return to work, it said \u201climited progress\u201d had been made in improving the public procurement framework.<\/p>\n

The EC said \u201cno progress\u201d had been made to address recommendations on reinforcing the anti-corruption framework and strengthening prosecutorial efforts.<\/p>\n

\u201cThe regulatory environment in services has not improved. The quality and transparency of decision making and social dialogue has not advanced,\u201d it added.<\/p>\n

Source:\u00a0https:\/\/hungarytoday.hu\/ec-hungary-productivity-gains-modest\/<\/a><\/p>\n","protected":false},"author":2,"featured_media":1045195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":["post-1045194","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news"],"yoast_head":"\nHungary Productivity Gains \u201cModest\u201d – Bocskai R\u00e1di\u00f3<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bocskairadio.org\/en\/hungary-productivity-gains-modest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hungary Productivity Gains \u201cModest\u201d – Bocskai R\u00e1di\u00f3\" \/>\n<meta property=\"og:description\" content=\"The European Commission (EC) said productivity increases in Hungary have been \u201cmodest\u201d, adding that strong economic growth has created favourable conditions for policies that would support improvements in a country report released on Wednesday. \u201cProductivity growth has improved, but remains below pre-crisis rates, limiting the possibility for income convergence,\u201d the EC said in the report. [Productivity growth] has been slow for a decade compared to Hungary\u2019s regional peers. Large productivity differences persist between larger, more capital-intensive foreign firms, and smaller, more labour-intensive domestic counterparts. Only few firms innovate, reflecting weaknesses in the entrepreneurial culture and product market competition. The EC acknowledged that policy stimulus has supported productivity-enhancing investment, but noted that labour costs continue to outpace productivity growth. \u201cIn the course of the last decade, the mobilisation of labour market reserves has helped income per head catch up with the EU average, while output per worker has barely grown,\u201d the EC said.\u00a0As labour reserves have diminished and the working-age population is set to decrease in the medium term, higher productivity is \u201cessential if living standards are to be brought closer to the EU average\u201d, it added. The EC said Hungary\u2019s economy is enjoying a \u201cstrong cyclical upswing\u201d, but warned that economic growth is set to level off after pent-up consumption unwinds. The external environment is also providing less support to export growth, while the major role played by the car industry creates a vulnerability to trade disputes and to regulatory and technological change.\u201d\u00a0The EC said a big increase in public investment is aggravating capacity shortages in construction, leading to cost overruns and project delays, and contributing to rapid house price increases. The EC said Hungary had made \u201climited progress\u201d overall to address 2018 country-specific recommendations. While it acknowledged \u201csome progress\u201d in reducing the complexity of the tax system, cutting the number of fostered workers and reducing the tax burden on pensioners who return to work, it said \u201climited progress\u201d had been made in improving the public procurement framework. The EC said \u201cno progress\u201d had been made to address recommendations on reinforcing the anti-corruption framework and strengthening prosecutorial efforts. \u201cThe regulatory environment in services has not improved. The quality and transparency of decision making and social dialogue has not advanced,\u201d it added. 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[Productivity growth] has been slow for a decade compared to Hungary\u2019s regional peers. Large productivity differences persist between larger, more capital-intensive foreign firms, and smaller, more labour-intensive domestic counterparts. Only few firms innovate, reflecting weaknesses in the entrepreneurial culture and product market competition. The EC acknowledged that policy stimulus has supported productivity-enhancing investment, but noted that labour costs continue to outpace productivity growth. \u201cIn the course of the last decade, the mobilisation of labour market reserves has helped income per head catch up with the EU average, while output per worker has barely grown,\u201d the EC said.\u00a0As labour reserves have diminished and the working-age population is set to decrease in the medium term, higher productivity is \u201cessential if living standards are to be brought closer to the EU average\u201d, it added. The EC said Hungary\u2019s economy is enjoying a \u201cstrong cyclical upswing\u201d, but warned that economic growth is set to level off after pent-up consumption unwinds. The external environment is also providing less support to export growth, while the major role played by the car industry creates a vulnerability to trade disputes and to regulatory and technological change.\u201d\u00a0The EC said a big increase in public investment is aggravating capacity shortages in construction, leading to cost overruns and project delays, and contributing to rapid house price increases. The EC said Hungary had made \u201climited progress\u201d overall to address 2018 country-specific recommendations. While it acknowledged \u201csome progress\u201d in reducing the complexity of the tax system, cutting the number of fostered workers and reducing the tax burden on pensioners who return to work, it said \u201climited progress\u201d had been made in improving the public procurement framework. The EC said \u201cno progress\u201d had been made to address recommendations on reinforcing the anti-corruption framework and strengthening prosecutorial efforts. \u201cThe regulatory environment in services has not improved. The quality and transparency of decision making and social dialogue has not advanced,\u201d it added. 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l\u00e9tez\u00e9se \u00e9s fenn\u00e1ll\u00e1sa \u00f3ta arra t\u00f6rekszik hogy a Cleveland k\u00f6rny\u00e9ki magyar lakoss\u00e1got szolg\u00e1lja az \u00e9kes magyar sz\u00f3val, kicsiny de ragyog\u00f3 haz\u00e1nk h\u00edreivel, csod\u00e1latos magyar kult\u00far\u00e1val; irodalommal \u00e9s mes\u00e9s magyar muzsik\u00e1val. A r\u00e1di\u00f3m\u0171sorokban nagy szerepe van a helyi magyar egyh\u00e1zi szervezeteknek is. 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