Compare Hungary (2008) - Hungary (2007)

Compare Hungary (2008) z Hungary (2007)

Show all fields

	Hungary (2008)	Hungary (2007)

Background	Hungary became a Christian kingdom in A.D. 1000 and for many centuries served as a bulwark against Ottoman Turkish expansion in Europe. The kingdom eventually became part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under Communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow. Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multiparty elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU in 2004.	Hungary was part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under Communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow. Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multiparty elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU in 2004.
Budget	revenues: $62.25 billion expenditures: $69.98 billion (2007 est.)	revenues: $50.51 billion expenditures: $60.71 billion (2006 est.)
Debt - external	$142.9 billion (30 June 2007)	$82.02 billion (2006 est.)
Diplomatic representation in the US	chief of mission: Ambassador Ferenc SOMOGYI chancery: 3910 Shoemaker Street NW, Washington, DC 20008 telephone: [1] (202) 362-6730 FAX: [1] (202) 966-8135 consulate(s) general: Chicago, Los Angeles, New York	chief of mission: Ambassador Ferenc SOMOGYI chancery: 3910 Shoemaker Street NW, Washington, DC 20008 telephone: [1] (202) 362-6730 FAX: [1] (202) 966-8135 consulate(s) general: Los Angeles, New York
Disputes - international	bilateral government, legal, technical and economic working group negotiations continue in 2006 with Slovakia over Hungary's failure to complete its portion of the Gabcikovo-Nagymaros hydroelectric dam project along the Danube; as a member state that forms part of the EU's external border, Hungary has implemented the strict Schengen border rules	bilateral government, legal, technical and economic working group negotiations continue in 2006 with Slovakia over Hungary's failure to complete its portion of the Gabcikovo-Nagymaros hydroelectric dam project along the Danube; as a member state that forms part of the EU's external border, Hungary must implement the strict Schengen border rules
Economy - overview	Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for over 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 billion since 1989. Hungary issues investment-grade sovereign debt. International observers, however, have expressed concerns over Hungary's fiscal and current account deficits. In 2007, Hungary eliminated a trade deficit that had persisted for several years. Inflation declined from 14% in 1998 to a low of 3.7% in 2006, but jumped to 7.8% in 2007. Unemployment has persisted above 6%. Hungary's labor force participation rate of 57% is one of the lowest in the Organization for Economic Cooperation and Development (OECD). Germany is by far Hungary's largest economic partner. Policy challenges include cutting the public sector deficit to 4% of GDP by 2008, from about 6% in 2007. The government's austerity program of tax hikes and subsidy cuts has reduced Hungary's large budget deficit, but the reforms have dampened domestic consumption, slowing GDP growth to less than 2% in 2007. The government will need to pass additional reforms to ensure the long-term stability of public finances. The government plans to eventually lower its public sector deficit to below 3% of GDP to adopt the euro.	Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. Hungary continues to demonstrate strong economic growth and acceded to the EU in May 2004. The private sector accounts for over 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 billion since 1989. Hungary issues investment-grade sovereign debt. International observers, however, have expressed concerns over Hungary's fiscal and current account deficits. Inflation has declined from 14% in 1998 to 3.7% in 2006. Unemployment has persisted above 6%. Hungary's labor force participation rate of 57% is one of the lowest in the Organization for Economic Cooperation and Development (OECD). Germany is by far Hungary's largest economic partner. Policy challenges include cutting the public sector deficit to 3% of GDP by 2008, from about 6.5% in 2006, and tackling a persistent trade deficit. The current government has announced and begun to implement an austerity program designed to address these issues, leading to eventual adoption of the euro.
Exchange rates	forints per US dollar - 186.16 (2007), 210.39 (2006), 199.58 (2005), 202.75 (2004), 224.31 (2003)	forints per US dollar - 210.39 (2006), 199.58 (2005), 202.75 (2004), 224.31 (2003), 257.89 (2002)
GDP - composition by sector	agriculture: 3.3% industry: 32.4% services: 64.2% (2007 est.)	agriculture: 3.4% industry: 31.5% services: 65.1% (2006 est.)
GDP - real growth rate	2.1% (2007 est.)	3.9% (2006 est.)
Independence	25 December 1000 (crowning of King STEPHEN I, traditional founding date)	1001 (unification by King STEPHEN I)
Industrial production growth rate	5% (2007 est.)	9.5% (2006 est.)
Inflation rate (consumer prices)	7.8% (2007 est.)	4.1% (2006 est.)
International organization participation	ACCT (observer), Australia Group, BIS, CE, CEI, CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, G- 9, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, SECI, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC	ACCT (observer), Australia Group, BIS, CE, CEI, CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, G- 9, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, SECI, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC
Labor force	4.19 million (2007 est.)	4.21 million (2006 est.)
Legislative branch	unicameral National Assembly or Orszaggyules (386 seats; members are elected by popular vote under a system of proportional and direct representation to serve four-year terms) elections: last held 9 and 23 April 2006 (next to be held in April 2010) election results: percent of vote by party (5% or more of the vote required for parliamentary representation in the first round) - MSzP 43.2%, Fidesz-KDNP 42%, SzDSz 6.5%, MDF 5%, other 3.3%; seats by party - MSzP 190, Fidesz-KDNP 164, SzDSz 20, MDF 11, independent 1	unicameral National Assembly or Orszaggyules (386 seats; members are elected by popular vote under a system of proportional and direct representation to serve four-year terms) elections: last held 9 and 23 April 2006 (next to be held in April 2010) election results: percent of vote by party (5% or more of the vote required for parliamentary representation in the first round) - MSzP 43.2%, Fidesz-KDNP 42%, SzDSz 6.5%, MDF 5%, other 3.3%; seats by party - MSzP 190, Fidesz 141, KDNP 23, SzDSz 20, MDF 11, independent 1
Military branches	Ground Forces, Hungarian Air Force (Magyar Legiero, ML) (2008)	Ground Forces, Hungarian Air Force (Magyar Legiero, ML) (2006)
Pipelines	gas 4,397 km; oil 990 km; refined products 335 km (2007)	gas 4,397 km; oil 990 km; refined products 335 km (2006)
Unemployment rate	7.1% (2007 est.)	7.4% (2006 est.)

Sitemap: Compare countries listing (map site) | Country listing (map site)
Links: Add to favorites | Information about this website | Stats | Polityka prywatnosci
This page was generated in ##czas## s. Size this page: ##rozmiar_strony## kB.