Hungary ranks 6th in EU-convergence
Monday, June 6, 2005, 00:00
Hungary's economy ranks sixth among the eight new EU members in Central-Eastern Europe in closing the gap with the EU-15, business daily Világgazdaság reported. The survey, prepared by International Centre for Economic Growth (ICEG) European Centre and Világgazdaság uses a convergence index based on ten macroeconomic indicators, and shows the extent to which the eight countries lag
behind the EU-15. The survey examines for example public finances, Maastricht criteria convergence and structural components of the real economy. Hungary's performance is weighed down by the instability of public finances and it is the only country in the region where the public finance deficit is expected to be above 5 % of GDP this year. Hungary was among the top three in the region in 2000.