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ECB reviews Hungary's euro convergence progress in biannual report

May 23rd, 2018

The European Central Bank (ECB) said Hungary needs "stability-oriented economic policies" and "wide-ranging structural reforms" in a report on euro convergence released on Wednesday. The ECB reviews the progress of members states, which have not yet adopted the euro, in "fulfilling their obligations regarding the achievement of economic and monetary union" in its biannual Convergence Report. "Hungary would benefit from structural reforms aimed at promoting private sector-led growth, such as by improving the governance of institutions and by cutting red tape and tax burden where excessive," the ECB said.


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