Hungary
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.[1]
Economical characteristics
- Currency: Forint (ISO code: HUF)
- Central bank discount rate: 6.25% (31 December 2009)[1]
- Commercial banks lending rate: 6.66% (31 December 2009)[1]
- Stock of money (M1): $30.27 billion (31 December 2009)[1]
- Quasi money (with M1 makes M2): $40.7 billion (31 December 2009)[1]
Statistics
| Statistic / Year | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|
| GDP (million USD)[2] | 48 044 | 47 885 | 53 190 | 66 502 | 84 326 | 102 076 | 110 195 | 113 006 | 138 757 | 154 668 |
| Govt. debt (% of GDP)[3] | 68.650 | 61.003 | 60.206 | 60.638 | 62.286 | 66.122 | 68.972 | 70.223 | 69.385 | 73.850 |
| Govt. revenue (% of GDP)[4] | 38.143 | 37.343 | 37.053 | 36.290 | 35.714 | 35.744 | 35.551 | 35.811 | 37.948 | 40.655 |
| Govt. expenses (% of GDP)[5] | 44.946 | 40.724 | 41.242 | 43.552 | 43.081 | 42.314 | 42.716 | 44.086 | 42.884 | 45.020 |
| Debt to revenue (years) | 1.800 | 1.634 | 1.625 | 1.671 | 1.744 | 1.850 | 1.940 | 1.961 | 1.828 | 1.817 |
References
Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.
- ↑ 1.0 1.1 1.2 1.3 1.4 Cite error: Invalid
<ref>tag; no text was provided for refs namedCIA_HU - ↑ World Bank. "Hungary: GDP", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Hungary: government debt", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Hungary: government revenue", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Hungary: government expenses", from World Bank Data. Referenced 2010-09-29.
External links
- Hungary on Wikipedia
- Central bank of Hungary
- Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
- Studies from the Library of Congress (1986-1998)
- BBC country profile