OMRI DAILY DIGEST
No. 147, 31 July 1996

HUNGARIAN ECONOMY STAGNATES IN FIRST HALF OF 1996. Preliminary
figures released by the Central Statistics Office (KSH) show that
zero -- or even negative --GDP growth was attained in the first
half of 1996, Hungarian dailies reported on 31 July. This follows a
1% year-on-year decline in GDP in the first quarter. Commenting on
this year's trends, economist Laszlo Csaba told Vilaggazdasag that
"the moment of truth has arrived: the government has been unable to
realize its hopes of attaining an improvement in the current
account deficit and a GDP growth at the same time." The KSH's
January-May report also shows a continued fall in domestic demand
owing to the austerity measures introduced in May 1995. -- Zsofia
Szilagyi

NEW MEDIA COUNCIL SET UP IN HUNGARY. The eight-member National
Communications and Information Council (NHIT) has begun operating,
Hungarian media reported on 31 July. The NHIT replaces the National
Frequency Council and is the last of the new organizations set up
in accordance with the media law, passed last December. The body is
charged with advising the government on a wide range of mass media
issues, including preparations for bringing the country's mass
media in line with EU norms. It will also help organize
international tenders and liberalize media regulations. -- Zsofia
Szilagyi

[As of 12:00 CET]

Compiled by Jan Cleave