(since 4 August 2000)
cabinet: Council of Ministers elected by the National Assembly on
the recommendation of the president
election results: Ferenc MADL elected president; percent of
legislative vote - NA% (but by a simple majority in the third round
of voting); Ferenc GYURCSANY elected prime minister; percent of
legislative vote - 197 to 12
note: to be elected, the president must win two-thirds of
legislative vote in the first two rounds or a simple majority in the
third round
elections: president elected by the National Assembly for a
five-year term; election last held 6 June 2000 (next to be held by
June 2005); prime minister elected by the National Assembly on the
recommendation of the president; election last held 29 September 2004
head of government: Prime Minister Ferenc GYURCSANY (since 29
September 2004)
Legislative branch:
unicameral National Assembly or Orszaggyules (386 seats; members
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-MPP [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, PFP, 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 FAX: [1] (202) 966–8135 consulate(s) general: Los Angeles and New York telephone: [1] (202) 362–6730 chancery: 3910 Shoemaker Street NW, Washington, DC 20008
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 joined 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 to the second-highest
rating among all the Central European transition economies.
Inflation has declined substantially, from 14% in 1998 to 4.7% in
2003; unemployment has persisted around the 6% level. Germany is by
far Hungary's largest economic partner. Short-term issues include
the reduction of the public sector deficit and further increasing
the flexibility of the labor markets.
GDP:
purchasing power parity - $139.8 billion (2003 est.)
GDP - real growth rate:
2.9% (2003 est.)
GDP - per capita:
purchasing power parity - $13,900 (2003 est.)
GDP - composition by sector: agriculture: 3.3% industry: 32.5% services: 64.2% (2003 est.)
Investment (gross fixed):
22% of GDP (2003)
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):
4.7% (2003 est.)
Labor force:
4.164 million (2003)
Labor force - by occupation:
agriculture 8%, industry 27%, services 65% (1996)
Unemployment rate:
5.9% (2003 est.)
Budget:
revenues: $35 billion
expenditures: $39.88 billion, including capital expenditures of NA
(2003 est.)
Public debt:
57% of GDP (2003)
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:
6.4% (2003 est.)
Electricity - production:
34.39 billion kWh (2001)
Electricity - consumption:
35.15 billion kWh (2001)
Electricity - exports:
7.261 billion kWh (2001)
Electricity - imports: