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THEMES

The Development of the Hungarian National Economy since 1989 (Development trends, changes in economic structures and problems) Part 1. made by Mr. Csaba Sólyom Senior lecturer of the Budapest Business School 2006. THEMES. The most important issues:

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THEMES

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  1. The Development of the Hungarian National Economy since 1989(Development trends, changes in economic structures and problems)Part 1.made byMr. Csaba SólyomSenior lecturer of the Budapest Business School2006.

  2. THEMES The most important issues: • The growth of the Hungarian National Economy: Level, development and structure of the GDP of Hungary • Changes in the Economic Structure of the Hungarian National Economy: Development of the most important branches of the national economy like industry, agriculture, internal and foreign trade, tourism • Internal and external balances of the Hungarian national economy: balance of foreign trade, balance of current account of the country, development of prices, inflation, exchange rates of the Hungarian currency • Problems of the state budgets • Labour market problems of the Hungarian national economy

  3. NEBASICS 2004 Basic Data of some EU members

  4. NE BASICS Important issues to discover: • The value of GDP per capita in Hungary is 1/3 of the EU-15 average, but the speed of the growth is much higher, • The position of Hungary to the EU-10 average is good, but the annual growth rate is worser • Purchase power and private consumption in Hungary is about ½ of the figure of the EU-15, why? • The average number of persons living in a household in Hungary coincides with the figures of the EU-15.

  5. GDP-1

  6. GDP-2 The GDP Production Value of Hungary (on fixed prices of year 2000)

  7. GDP-4

  8. GDP-4

  9. GDP-5

  10. GDP-5 Final use of GDP on current prices 1995-2005 (in billion HUF)

  11. GDP-8

  12. GDP-9 Conclusions on GDP development: • 1989-1994 economic crisis, GDP on current prices increases • 1995-2000 Bokros packet accelerates GDP growth on balanced, sustainable path • 2001-2004 GDP growth is based on increasing foreign financing • High GDP growth with dynamic integration into the EU market • Side-effect of high GDP growth => dynamic increase of foreign trade, but high deficit of foreign trade => GDP final use exceeds GDP production • GDP final use distribution on consumption and investment is ok. • Geographical distribution of GDP production structure share of the central region is too high.

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