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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 3.7% in 2005. 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 6.5% in 2005, and orchestrating an orderly interest rate reduction without sparking capital outflows. |
Trade Fairs,
Exhibitions, Conferences: |
Hungarian BuyBrand Show
The First Hungarian International Vending Expo
Organiser: Dakexpo Ltd.
Hungexpo C. Co. Ltd.
Hungexpo C. Co. Ltd. is Hungary's recognised top exhibition organising company. With 34 years experience, it has been the leading actor of the domestic market since 1968. The unique pivot of its success is its own permanent exhibition site, the Budapest Fair Centre. Hungexpo C. Co. Ltd. organises high level trade fairs and exhibitions at home and abroad. Through extended international relations and representation network, it is aiming from both exhibiting and trade aspects to become a determining exhibition organiser in East-Central Europe. |
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