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Hungary Economy: Population, GDP, Inflation, Business, Trade, FDI
Hungary’s transition to a market economy has been facilitated by the modernization of trade and investment. The business environment remains relatively conducive to entrepreneurship and risk-taking. However, concerns about the rule of law have been increasing, and budget deficits have raised public debt and hurt fiscal soundness.
Economy of Hungary - Wikipedia
Hungary is an OECD high-income mixed economy with very high human development index and skilled labour force with the 16th lowest income inequality in the world, furthermore its the 15th most complex economy according to the Economic Complexity Index.[23] The Hungarian is the 57th-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion output,[1] and ranks 49th in the world in terms of GDP per capita measured by purchasing power parity. Hungary is an export-oriented market economy with a heavy emphasis on foreign trade, thus the country is the 36th largest export economy in the world. The country has more than $100 billion export in 2015 with high, $9.003 billion trade surplus, of which 79% went to the EU and 21% was extra-EU trade.[24] Hungary has a more than 80% privately owned economy with 39,1% overall taxation, which provides the basis for the country's welfare economy. On the expenditure side, household consumption is the main component of GDP and accounts for 50 percent of its total use, followed by gross fixed capital formation with 22 percent and government expenditure with 20 percent.[25]
Ministry for National Economy
The National Assembly began the general debate of the draft bill of the 2017 Budget on Wednesday.
Hungary Economy - GDP, Inflation, CPI and Interest Rate
Hungary’s economy decelerated somewhat in 2015 as subdued public spending and fixed investment more than offset strong private consumption and exports. Latest indicators suggest that weakness in the industrial sector carried over into this year, while consumption likely remained robust. Industrial production weakened gradually in the first three months of the year and exports were volatile in January and February. Economic sentiment cooled down steadily from January to April. Conversely, falling unemployment—as evidenced by February’s record-low reading—and the Central Bank’s monetary policy easing measures coupled with low inflation bode well for private consumption.