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“ A nyavalya lóháton jön, gyalog megy el ” = "Misfortune comes on horseback

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:

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“ A nyavalya lóháton jön, gyalog megy el ” = "Misfortune comes on horseback

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  1. Economic and Political Development of HungaryInternational Open Seminar, VUZF University30/11/2012

  2. “A nyavalya lóháton jön, gyalog megy el” = "Misfortune comes on horseback and goes away on foot.”

  3. Population: 9,979,000 • Capital: Budapest • Political System: Parliamentary Republic • Member of NATO,OECD,EU and IMF • EU member since 2004 • Still not a EUROZONE member Country overview

  4. History of the Hungarian economy • 1990-1992 GDP drops by 20% • 1992 unemployment rate - 12.2% • Inflation rate – up to 35% • 1989-1993 Prices rose to 162% • - FDI

  5. Hungary`s economy since 2000 • FDI increased • Unemployment rate • GDP rose by 3.3% • GDP per capita • Inflation

  6. Financialcrisis(2008-09) • Hungaryfaces one of the worst economic contractions in its history. • Negative GDP Growthin 2009 (-6.5%) • Highinflation

  7. Current Economy Source: Hungarian Central Statistical Office.

  8. New GovernmentApproach in 2010 • ViktorOrban, Hungarian PM • Nationalising$13 billion of private pension-fund assets • Hungarianbanks- forced to allowconversion • New mediaandcentralbanklaws • Signs of Recovery – at a bigexpense

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