William Penn Life, 2008 (43. évfolyam, 1-12. szám)

2008-05-01 / 5. szám

Magyar Matters

Report says Hungary must continue reforms to ensure economic growth

AHF to provide new home for three major works of sculpture

New Brunswick, N.J. -- The Museum of the American Hungarian Foundation will unveil three major works of sculpture installed in the museum courtyard on Sunday, May 4.

The three sculptures~“The Ballerina”, “Family” and “Mother and Children”-were done in the early 1970s by Hungarian artist Paul Takács. He immigrated to America after the 1956 Hungarian Revolution and settled in the Washington D.C. area, where he enjoyed a significant career as an artist until his death in 2000. He exhibited his paintings in New York and in Washington, which is also home to his numerous sculptures, murals and other public works. His art is in the collections of the Arts and Industries Museum and National Air and Space Museum.

Originally installed in Crystal Plaza, Arlington, Va., the sculptures are life-size figures created from steel wire.

The museum is located at 300 Somerset St, New Brunswick. For more details call 732-846-5777.

from The Budapest Sun Hungary must consolidate its public finances and persist with structural reforms to ensure stronger growth, says a new Organization for Economic Co-operation and Development (OECD) report, published April 10.

The survey, "Reforms for Stability and Sustainable Growth: an OECD Perspective on Hungary," emphasizes the need to persevere in the ongoing program of fiscal consolidation, and to forge ahead with structural reforms, for Hungary to resume the process of catching up with better performing OECD countries.

The Hungarian government must stick to its plan of cutting the public deficit—currently the highest among the OECD's 30 member-countries—to below three percent of gross domestic product by 2010, if the country is to boost its economic growth potential, says the OECD report.

With a deficit currently running at 5.5 percent of GDP, and with a higher public sector debt than other central European countries, Hungary needs to consolidate its public finances through more efficient government spending, and raise its growth potential through structural reforms in other areas, the report says.

"Bringing greater discipline to

public finances, by reforming taxation and government spending, is Hungary's most immediate challenge," said Aart de Geus, deputy secretary-general of the OECD. "If the reform program goes according to plan, the whole economy will benefit, raising the standard of living across society and allowing Hungary to resume catching up with other OECD countries."

The report notes that, by persevering with planned reforms, Hungary will be able to address a range of problems that are holding back economic growth and improvements in living standards.

These include low employment rates, obstacles to successful entrepreneurship, and weaknesses in the higher education and health systems, the OECD says.

The OECD has been one of the world's largest sources of comparable statistics and economic and social data since its establishment in 1961. As well as collecting data, the OECD monitors trends, forecasts economic developments and researches social changes or evolving patterns in trade, environment, agriculture, technology, taxation and more. Its headquarters are in Paris. Hungary has been a member since May 1996.

Experience a true taste of Hungary.

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August 3-9, 2008 • Penn Scenic View, Rockwood, PA- Learn the Hungarian

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William Penn Life, May 2008