Judicial branch: Constitutional Court, judges are elected by the
National Assembly for a nine-year term
Political parties and leaders: Hungarian Democratic Forum or MDF [Sandor LEZSAK, chairman]; Independent Smallholders or FKgP [Jozsef TORGYAN, president]; Hungarian Socialist Party or MSzP [Gyula HORN, president]; Christian Democratic People's Party or KDNP [Gyorgy GICZY, president]; Hungarian Civic Party or FiDeSz [Viktor ORBAN, chairman]; Alliance of Free Democrats or SzDSz [Ivan PETO, chairman]; Hungarian Democratic People's Party or MDNP [Ivan SZABO, chairman]; Hungarian Justice and Life Party or MIEP [Istvan CSURKA, chairman]; Hungarian Workers' Party or MMP [Gyula THURMER, chairman] note: the Hungarian Socialist (Communist) Workers' Party or MSzMP renounced Communism and became the Hungarian Socialist Party or MSzP in October 1989; the MDNP was formed in March 1996 by breakaway members of the Hungarian Democratic Forum; the KDNP lost its parliamentary faction status in July 1997 after a party split reduced its representation below the minimum 15 required
International organization participation: Australia Group, BIS, CCC,
CE, CEI, CERN, EAPC, EBRD, ECE, EU (applicant), FAO, G- 9, IAEA, IBRD,
ICAO, ICFTU, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol,
IOC, IOM, ISO, ITU, MINURSO, MONUA, MTCR, NAM (guest), NSG, OAS
(observer), OECD, OSCE, PCA, PFP, UN, UNCTAD, UNESCO, UNFICYP, UNHCR,
UNIDO, UNIKOM, UNMIBH, UNOMIG, UNU, UPU, WEU (associate partner),
WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Gyorgy BANLAKI chancery: 3910 Shoemaker Street NW, Washington, DC 20008 telephone: [1] (202) 362-6730 FAX: [1] (202) 966-8135 consulate(s) general: Los Angeles and New York
Diplomatic representation from the US: chief of mission: Ambassador Peter F. TUFO embassy: V. Szabadsag Ter 12, 1054 Budapest mailing address: Pouch: American Embassy Budapest, Department of State, Washington, DC 20521-5270 telephone: [36] (1) 267-4400, 269-9331 (after hours), 269-9339 (after hours) FAX: [36] (1) 269-9326
Flag description: three equal horizontal bands of red (top), white, and green
@Hungary:Economy
Economy-overview: Hungary has consolidated its March 1995 stabilization program and undergone enough restructuring to become an established market economy. The country appears to have entered a period of sustainable growth, gradually falling inflation, and stable external balances. The government's main economic priorities are to complete structural reforms, particularly the implementation of the 1997 pension reform act (the first in the region), taxation reform, and planning for comprehensive health care, local government finance reform, and the reform of education at all levels. Foreign investment has totaled more than $17 billion through 1997. In recognition of Hungary's improved macro-economic situation, all major credit-rating agencies listed the country's foreign currency debt issuances as investment grade in 1996. The current IMF stand-by arrangement expired in February 1998, and Budapest and the IMF agree that there is no need to renew it. The OECD welcomed Hungary as a member in May 1996, and in December 1997 the EU invited Hungary to begin the accession process. Forecasters expect 4%-5% growth in 1998.
GDP: purchasing power parity-$73.2 billion (1997 est.)
GDP-real growth rate: 4.4% (1997 est.)