Diplomatic representation from the US: chief of mission: Ambassador Nancy Goodman BRINKER embassy: Szabadsag ter 12, H-1054 Budapest mailing address: pouch: American Embassy Budapest, 5270 Budapest Place, Department of State, Washington, DC 20521-5270 telephone: [36] (1) 475-4336, 475-4156 FAX: [36] (1) 475-4520
Flag description: three equal horizontal bands of red (top), white, and green
Economy Hungary
Economy - overview: Hungary continues to demonstrate strong economic growth and to work toward accession to the European Union. The private sector accounts for over 80% of GDP. Foreign ownership of and investment in Hungarian firms is widespread, with cumulative foreign direct investment totaling more than $23 billion since 1989. Hungarian sovereign debt was upgraded in 2000 to the second-highest rating among all the Central European transition economies. Inflation and unemployment - both priority concerns in 2001 - have declined substantially. Economic reform measures such as health care reform, tax reform, and local government financing have not yet been addressed by the ORBAN government.
GDP: purchasing power parity - $120.9 billion (2001 est.)
GDP - real growth rate: 3.9% (2001 est.)
GDP - per capita: purchasing power parity - $12,000 (2001 est.)
GDP - composition by sector: agriculture: 6% industry: 34% services: 60% (2000 est.)
Population below poverty line: 8.6% (1993 est.)
Household income or consumption by percentage share: lowest 10%: 4.1% highest 10%: 20.5% (1998)