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The attempted fiscal consolidation involved nationalizing $14 billion in assets of private pension funds in 2011—a measure that increased revenue in the immediate short term but cannot be a systematic remedy to the country’s deficit problem. [241] In 2008, as part of a more systematic effort to bring public finances under control, Hungary introduced the Fiscal Council, a nominally independent body charged with assessing the short-term and longer-term effects of policy changes on the government budget.

Pages: 368

Publisher: Pearson; 1 edition (August 28, 2011)

ISBN: 0136021484

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Managing Innovation and Change (Published in association with The Open University)

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