Hungary
Hungary’s GDP growth through the first three quarters of 2007 was 1.3%, the worst performance in ten years. The restricted macro-economic performance was the consequence of government-imposed economic reforms in 2006 and 2007. These included severe cutbacks in public employment and the freezing of wages for surviving civil servants. State institutions were closed or subjected to deep budget cuts. Price controls on gasoline and electricity were removed, resulting in 50% price increases over a five month period. The employment rate, 57.3%, is the lowest in the European Union and long-term unemployment is 50%.
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Source:
ECOSTAT —
Gazdaságelemző és Informatikai Intézet
H-1149 Budapest, Andor u. 47-49.
Phone(36-1) 229-8505
Fax (36-1) 229-8550
ecostat@ecostat.hu
http://www.ecostat.hu/english/
Data updated: 13 November 2007.
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