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• BUDGET AND PUBLIC DEBT FINANCIAL STABILITY IS A PREREQUISITE FOR SUSTAINABLE GROWTH

  1-21

  Árpád Kovács

  Views:

  108

  The central thought of this article is the relationship between the stability of public finances and the sustainable economic development of the country. The paper aims to find an answer to the question to what extent the outer and inner conditions of the social and economic functioning have contributed to, and hindered the domestic development in the quarter of the century after the change of the regime. The article proves that stability and growth are predisposed to strengthen each other. In absence of financial stability, we cannot talk about competitiveness as a prerequisite for the sustainability of growth, or in a wider sense, the realization of the public good. The latter can be observed basically in the fact that the interests of financial stability and growth are in equilibrium and the satisfaction of socio economic needs is realized in the frame defined by them.

• THE EFFECT OF ECONOMIC POLICY DECISIONS AND INFLATION ON THE SITUATION OF THE LABOR MARKET - WITH PARTICULAR REGARD TO PUBLIC ADMINISTRATION

  Alexandra Ildikó Varga

  Views:

  246

  Nowadays, our country is characterized by active monetary and fiscal political decisions, however, the crisis caused by the coronavirus and the Russian-Ukrainian war and its inflationary consequences would lead the economic policy decisions in the opposite direction, which is unsustainable in the long term. In my study, I examined the relationship between fiscal and monetary policy and the labor impact of the economic crisis based on macroeconomic data, the Hungarian National Bank, and European Union forecasts. Significant progress was made in economic policy after 2010, thanks to which there was a fiscal balance and monetary policy ensured price stability, the labor market situation showed a gradually improving trend in recent years. The independent but constructive harmony between the two economic policy sub-areas after 2013 resulted in a permanent improvement of the macroeconomic processes of our country. However, the emerging crisis situation required a quick reaction, which fundamentally changed the short-term economic policy goals. Thanks to the consistency of monetary and fiscal policy, the Hungarian economy performed well even in the pandemic period compared to the European Union average. In the emergency situation caused by the coronavirus and the war, economic policy has found itself in a difficult situation, recovery from the crisis justifies economic recovery, while monetary tightening is needed to curb inflationary difficulties.