Legislative branch:
unicameral National Assembly or Orszaggyules (386 seats; members
are elected by popular vote under a system of proportional and
direct representation to serve four-year terms)
elections: last held 9 and 23 April 2006 (next to be held April 2010)
election results: percent of vote by party (5% or more of the vote
required for parliamentary representation in the first round) - MSzP
43.2%, Fidesz-KDNP 42%, SzDSz 6.5%, MDF 5%, other 3.3%; seats by
party - MSzP 190, Fidesz 141, KDNP 23, SzDSz 20, MDF 11, independent
1
Judicial branch:
Constitutional Court (judges are elected by the National Assembly
for nine-year terms)
Political parties and leaders:
Alliance of Free Democrats or SzDSz [Gabor KUNCZE]; Christian
Democratic People's Party or KDNP [Zsolt SEMJEN]; Hungarian Civic
Alliance or Fidesz [Viktor ORBAN, chairman]; Hungarian Democratic
Forum or MDF [Ibolya DAVID]; Hungarian Socialist Party or MSzP
[Istvan HILLER, chairman]
Political pressure groups and leaders:
NA
International organization participation:
ACCT (observer), Australia Group, BIS, CE, CEI, CERN, EAPC, EBRD,
EIB, ESA (cooperating state), EU (new member), FAO, G- 9, IAEA,
IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF,
IMO, Interpol, IOC, IOM, IPU, ISO, ITU, MIGA, MINURSO, NAM (guest),
NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE,
PCA, SECI, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNOMIG, UPU,
WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WToO, WTO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Andras SIMONYI chancery: 3910 Shoemaker Street NW, Washington, DC 20008 telephone: [1] (202) 362-6730 FAX: [1] (202) 966-8135 consulate(s) general: Los Angeles, New York
Diplomatic representation from the US: chief of mission: Ambassador April H. FOLEY embassy: Szabadsag ter 12, H-1054 Budapest mailing address: pouch: American Embassy Budapest, 5270 Budapest Place, US Department of State, Washington, DC 20521-5270 telephone: [36] (1) 475-4400 FAX: [36] (1) 475-4764
Flag description: three equal horizontal bands of red (top), white, and green
Economy Hungary
Economy - overview:
Hungary has made the transition from a centrally planned to a
market economy, with a per capita income about 60% of the EU-25
average. Hungary continues to demonstrate strong economic growth and
acceded to the EU 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 $34 billion between 1990 and 2003. Several private sector
analysts and sovereign ratings agencies have expressed concerns over
Hungary's unsustainable budget and current account deficits.
Inflation has declined from 14% in 1998 to 3.5% in 2005.
Unemployment in 2005 rose to 7.1%, its highest point since 1999;
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 3% of GDP by
2008, from about 6.1% in 2005, and orchestrating an orderly interest
rate reduction without sparking capital outflows.