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Looming uncertainty despite readiness to accept a second IMF bailout package
- The economy is forecast to contract 0.8% in 2012, as a result of eurozone slowdown and ongoing domestic financing problems
- Budget deficit: EU funding is at stake
- Industries: Construction remains under severe pressure
- Insolvencies: Another increase in 2012, with construction, consumer durables, IT and retail suffering most.
Foreign debt
(Total foreign debt, percentage of GDP)
Source: IHS Global Insight; National Bank of Hungary
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General Information
Capital - Budapest
Government type - Parliamentary democracy
Currency - Forint (HUF)
Population - 9.9 million
Status - Upper middle income country
(GDP/capita: US-$ 13,112 in 2011)
Main import sources (2010)
- Germany - 26.1%
- Russia - 7.7%
- China - 6.8%
- Austria - 5.9%
- Netherlands - 4.4%
Main export markets (2010)
- Germany - 25.5%
- Italy - 5.5%
- UK - 5.4%
- Romania - 5.3%
- Slovakia - 5.1%
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Date March 2012
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