are elected by popular vote under a system of proportional and
direct representation to serve four-year terms)
elections: last held 7 and 21 April 2002 (next to be held NA April
2006)
election results: percent of vote by party (5% or more of the vote
required for parliamentary representation in the first round) -
Fidesz/MDF 48.70%, MSzP 46.11%, SzDSz 4.92%, other 0.27%; seats by
party - Fidesz 164, MSzP 178, MDF 24, SzDSz 20
Judicial branch:
Constitutional Court (judges are elected by the National Assembly
for nine-year terms)
Political parties and leaders:
Alliance of Free Democrats or SzDSz [Gabor KUNCZE]; Hungarian Civic
Alliance or Fidesz [Viktor ORBAN, chairman]; Hungarian Democratic
Forum or MDF [Ibolya DAVID]; Hungarian Democratic People's Party or
MDNP [Erzsebet PUSZTAI, chairman]; Hungarian Socialist Party or MSzP
[Istvan HILLER, chairman]; Hungarian Workers' Party or MMP [Gyula
THURMER, chairman]
Political pressure groups and leaders:
NA
International organization participation:
Australia Group, BIS, CE, CEI, CERN, EAPC, EBRD, EIB, ESA
(cooperating state), EU (new member), FAO, G- 9, IAEA, IBRD, ICAO,
ICC, ICCt, ICFTU, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO,
Interpol, IOC, IOM, ISO, ITU, MIGA, MINURSO, NAM (guest), NATO, NEA,
NSG, OAS (observer), OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO,
UNFICYP, UNHCR, UNIDO, UNMIK, UNOMIG, UPU, WCL, WCO, WEU (member
affiliate), WFTU, WHO, WIPO, WMO, WToO, WTO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Andras SIMONYI chancery: 3910 Shoemaker Street NW, Washington, DC 20008 telephone: [1] (202) 362–6730 FAX: [1] (202) 966–8135 consulate(s) general: Los Angeles and New York
Diplomatic representation from the US: chief of mission: Ambassador George Herbert WALKER embassy: Szabadsag ter 12, H-1054 Budapest mailing address: pouch: American Embassy Budapest, 5270 Budapest Place, Department of State, Washington, DC 20521–5270 telephone: [36] (1) 475–4400 FAX: [36] (1) 475–4764
Flag description: three equal horizontal bands of red (top), white, and green
Economy Hungary
Economy - overview:
Hungary has made the transition from a centrally planned to a
market economy, with a per capita income one-half that of the Big
Four European nations. Hungary continues to demonstrate strong
economic growth and acceded to the European Union 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 $23 billion since 1989.
Hungarian sovereign debt was upgraded in 2000 and together with the
Czech Republic holds the highest rating among the Central European
transition economies; however, ratings agencies have expressed
concerns over Hungary's unsustainable budget and current account
deficits. Inflation has declined from 14% in 1998 to 7% in 2004.
Unemployment has persisted around the 6% level, but Hungary's labor
force participation rate of 57% is one of the lowest in the 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 5% in 2004, and orchestrating an orderly interest
rate reduction without sparking capital outflows.
GDP (purchasing power parity):
$149.3 billion (2004 est.)
GDP - real growth rate:
3.9% (2004 est.)
GDP - per capita:
purchasing power parity - $14,900 (2004 est.)
GDP - composition by sector: agriculture: 3.3% industry: 31.4% services: 65.3% (2004 est.)
Labor force:
4.17 million (2004 est.)
Labor force - by occupation:
agriculture 6.2%, industry 27.1%, services 66.7% (2002)
Unemployment rate:
5.9% (2004 est.)
Population below poverty line:
8.6% (1993 est.)
Household income or consumption by percentage share: lowest 10%: 4.1% highest 10%: 20.5% (1998)
Distribution of family income - Gini index:
24.4 (1998)
Inflation rate (consumer prices):
7% (2004 est.)
Investment (gross fixed):
22.8% of GDP (2004 est.)
Budget:
revenues: $46.07 billion
expenditures: $51.36 billion, including capital expenditures of NA
(2004 est.)
Public debt:
58.3% of GDP (2004 est.)
Agriculture - products:
wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle,
poultry, dairy products
Industries:
mining, metallurgy, construction materials, processed foods,
textiles, chemicals (especially pharmaceuticals), motor vehicles
Industrial production growth rate:
9.6% (2004 est.)
Electricity - production:
34.07 billion kWh (2002)
Electricity - production by source: fossil fuel: 60.1% hydro: 0.5% nuclear: 39% other: 0.3% (2001)
Electricity - consumption:
35.99 billion kWh (2002)
Electricity - exports:
8.3 billion kWh (2002)
Electricity - imports:
12.6 billion kWh (2002)
Oil - production:
41,190 bbl/day (2001 est.)
Oil - consumption:
140,700 bbl/day (2001 est.)
Oil - exports:
47,180 bbl/day (2001)
Oil - imports:
136,600 bbl/day (2001)
Oil - proved reserves:
110.7 million bbl (1 January 2002)
Natural gas - production:
3.231 billion cu m (2001 est.)
Natural gas - consumption:
13.37 billion cu m (2001 est.)
Natural