Careers, Jobs and Education Resources for: Hungary


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Hungary became a Christian kingdom in A.D. 1000 and for many centuries served as a bulwark against Ottoman Turkish expansion in Europe. The kingdom eventually became part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under Communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow. Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multiparty elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU in 2004. (from the CIA)
 
 

 

Economic Overview

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the eu-25 average. the private sector accounts for more than 80% of gdp. foreign ownership of and investment in hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 billion since 1989. hungary issues investment-grade sovereign debt. international observers, however, have expressed concerns over hungary's fiscal and current account deficits. in 2007, hungary eliminated a trade deficit that had persisted for several years. inflation declined from 14% in 1998 to a low of 3.7% in 2006, but jumped to 7.8% in 2007. unemployment has persisted above 6%. hungary's labor force participation rate of 57% is one of the lowest in the organization for economic cooperation and development (oecd). germany is by far hungary's largest economic partner. policy challenges include cutting the public sector deficit to 4% of gdp by 2008, from about 6% in 2007. the government's austerity program of tax hikes and subsidy cuts has reduced hungary's large budget deficit, but the reforms have dampened domestic consumption, slowing gdp growth to about 2% in 2007. the government will need to pass additional reforms to ensure the long-term stability of public finances. the government plans to eventually lower its public sector deficit to below 3% of gdp to adopt the euro.

Environmental Issues

The upgrading of hungary's standards in waste management, energy efficiency, and air, soil, and water pollution to meet eu requirements will require large investments

Government Type

Parliamentary democracy

Population

9,930,915 (july 2008 est.)

Location

Central europe, northwest of romania

Area

Total: 93,030 sq km land: 92,340 sq km water: 690 sq km

Slightly smaller than indiana

Country Aliases

Conventional long form: republic of hungary conventional short form: hungary local long form: magyar koztarsasag local short form: magyarorszag

Capital

Name: budapest geographic coordinates: 47 30 n, 19 05 e time difference: utc+1 (6 hours ahead of washington, dc during standard time) daylight saving time: +1hr, begins last sunday in march; ends last sunday in october

Military Service

18 years of age for voluntary military service; conscription abolished in june 2004; 6-month service obligation, with reserve obligation to age 50 (2006)

International Disputes

Bilateral government, legal, technical and economic working group negotiations continue in 2006 with slovakia over hungary's failure to complete its portion of the gabcikovo-nagymaros hydroelectric dam project along the danube; as a member state that forms part of the eu's external border, hungary has implemented the strict schengen border rules

Sources: Central Intelligence Agency (CIA)

141 Hungary Jobs Found


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