“ a nyavalya lóháton jön, gyalog megy el ” = "misfortune comes on horseback
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Economic and Political Development of Hungary International Open Seminar, VUZF University 30/11/2012. “ A nyavalya lóháton jön, gyalog megy el ” = "Misfortune comes on horseback and goes away on foot.”. Population: 9,979,000 Capital: Budapest Political System: - PowerPoint PPT PresentationTRANSCRIPT
Economic and Political Development of Economic and Political Development of
HungaryHungary
International Open Seminar, VUZF UniversityInternational Open Seminar, VUZF University
30/11/201230/11/2012
“A nyavalya lóháton jön, gyalog megy el”
=
"Misfortune comes on horseback and goes away on foot.”
Population: 9,979,000Population: 9,979,000
Capital: BudapestCapital: Budapest
Political System: Political System: Parliamentary RepublicParliamentary Republic
Member of NATO,OECD,EU and IMFMember of NATO,OECD,EU and IMF
EU member since 2004EU member since 2004
Still not a EUROZONE memberStill not a EUROZONE member
Country overview Country overview
History of the History of the Hungarian economyHungarian economy
- 1990-1992 GDP drops by 20%- 1992 unemployment rate - 12.2% - Inflation rate – up to 35%- 1989-1993 Prices rose to 162% - FDI
Hungary`s economy since 2000Hungary`s economy since 2000
- FDI increasedFDI increased- Unemployment rate Unemployment rate - GDP rose by 3.3%GDP rose by 3.3%- GDP per capitaGDP per capita- InflationInflation
Financial crisis Financial crisis ((2008-092008-09))Hungary faces one of the worst economic contractions in its history.
◦Negative GDP Growth in 2009 (-6.5%)
◦High inflation
Current EconomyCurrent Economy
Source: Source: Hungarian Central Statistical Office.
New Government ApproachNew Government Approach in 2010 in 2010Viktor Orban, Hungarian PM
• Nationalising $13 billion of private pension-fund assets
• Hungarian banks - forced to allow conversion
• New media and central bank laws
• Signs of Recovery – at a big expense
