President last held 3 August 1990 (next to be held August 1995); elected by the National Assembly with a total of 294 votes out of 304; President GONCZ was elected by the National Assembly as interim President from 2 May 1990 until elected President;
National Assembly—last held on 25 March 1990 (first round, with the second round held 8 April 1990); results—percent of vote by party NA; seats—(394 total) Democratic Forum 165, Free Democrats 92, Independent Smallholders 43, Hungarian Socialist Party (MSP) 33, Young Democrats 21, Christian Democrats 21, independent candidates or jointly sponsored candidates 19
_#_Communists: fewer than 100,000 (December 1989)
_#_Member of: BIS, CCC, CE, CSCE, ECE, FAO, G-9, GATT,
IAEA, IBEC, IBRD, ICAO, IDA, IFC, IIB, ILO, IMF, IMO, INTERPOL, IOC, ISO,
ITU, LORCS, PCA, UN, UNCTAD, UNESCO, UNIDO, UNIIMOG, UPU, WFTU,
WHO, WIPO, WMO, WTO
_#_Diplomatic representation: Ambassador (vacant); Chancery at 3910 Shoemaker Street NW, Washington DC 20008; telephone (202) 362-6730; there is a Hungarian Consulate General in New York;
US—Ambassador Charles THOMAS; Embassy at V. Szabadsag Ter 12, Budapest (mailing address is APO New York 09213); telephone [36] (1) 112-6450
_#_Flag: three equal horizontal bands of red (top), white, and green
_*Economy #_Overview: Agriculture is an important sector, providing sizable export earnings and meeting domestic food needs. Industry accounts for about 40% of GNP and 30% of employment. About 40% of Hungary's foreign trade is with the USSR and Eastern Europe and a third is with the EC. Low rates of growth reflect the inability of the Soviet-style economy to modernize capital plant and motivate workers. GNP declined by 1% in 1989 and by an estimated 6% in 1990. Since 1985 external debt has more than doubled, to over $20 billion. In recent years Hungary has experimented widely with decentralized and market-oriented enterprises. The newly democratic government has renounced the Soviet economic growth model and plans to open the economy to wider market forces and to much closer economic relations with Western Europe. Prime Minister Antall has declared his intention to move foward on privatization of state enterprises, provision for bankruptcy, land reform, and marketization of international trade, but concerns over acceptable levels of unemployment and inflation may slow the reform process.
_#_GNP: $60.9 billion, per capita $5,800; real growth rate - 5.7% (1990 est.)
_#_Inflation rate (consumer prices): 30% (1990 est.)