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Bokros Package
The Bokros package ( hu, Bokros-csomag; named after the then-Minister of Finance Lajos Bokros) was a series of austerity measures announced by the Cabinet of Prime Minister Gyula Horn in Hungary on 12 March 1995. Background Having lost the free election in 1990 to the right-wing, reformist parties, the Hungarian Socialist Party, which had been in opposition to the Magyar Democrat Forum's government 1990–1994, won an absolute majority (54.1% of seats) in parliament on the 1994 election, running on a platform of more social harmony and attention to the needs of the poor. Despite winning a majority of seats, the reformed socialists formed a coalition government with the economically liberal Free Democrats. In addition, the socialists themselves were divided between a more traditional leftist wing and an economically liberal wing, some representatives of which could even be characterized as economically to the right of Free Democrats. Indeed, initially the new government initiated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance Of Hungary
The Minister of Finance ( hu, pénzügyminiszter) is a member of the Hungarian cabinet and the head of the Ministry of Finance. The current minister is Mihály Varga. The position was called as People's Commissar of Finance ( hu, pénzügyi népbiztos) during the Hungarian Soviet Republic in 1919, and as Minister of National Economy ( hu, nemzetgazdasági miniszter) between 2010 and 2018. This page is a list of Ministers of Finance of Hungary. Ministers of Finance (1848–1919) Hungarian Kingdom (1848–1849) Parties Hungarian State (1849) Parties ''After the collapse of the Hungarian Revolution of 1848, the Hungarian Kingdom became an integral part of the Austrian Empire until 1867, when dual Austro-Hungarian Monarchy was created''. Hungarian Kingdom (1867–1918) Parties Hungarian People's Republic (1918–1919) Parties People's Commissars of Finance (1919) Hungarian Soviet Republic (1919) Parties Counter-revolutionary governments (1919) Parties ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the war in Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro. History The forint's name comes from the city of Florence, where gold coins called '' fiorino d'oro'' were minted fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Hungary
The economy of Hungary is a high-income economy, high-income mixed economy, ranked as the List of countries by economic complexity, 9th most complex economy according to the Economic Complexity Index. Hungary is a member of the OECD, Organisation for Economic Co-operation and Development (OECD) with a List of countries by Human Development Index, very high human development index and a skilled labour force, with the List of countries by income equality, 13th lowest income inequality in the world. The Hungarian economy is the List of countries by GDP (PPP), 54th-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks List of countries by GDP (PPP) per capita, 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the List of countries by exports, 35th largest export economy in the world. The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Hungary
The economy of Hungary is a high-income mixed economy, ranked as the 9th most complex economy according to the Economic Complexity Index. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) with a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world. The Hungarian economy is the 54th-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the 35th largest export economy in the world. The country had more than $100 billion of exports in 2015, with a high trade surplus of $9.003 billion, of which 79% went to the European Union (EU) and 21% was extra-EU trade. Hungary's productive capacity is more than 80% privately owned, with 39.1% ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Economy
The economy of Hungary is a high-income mixed economy, ranked as the 9th most complex economy according to the Economic Complexity Index. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) with a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world. The Hungarian economy is the 54th-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the 35th largest export economy in the world. The country had more than $100 billion of exports in 2015, with a high trade surplus of $9.003 billion, of which 79% went to the European Union (EU) and 21% was extra-EU trade. Hungary's productive capacity is more than 80% privately owned, with 39.1% ove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ilona Szőllősi
''Ilona'' is a Hungarian female given name, the traditional name of the Queen of the Fairies in Magyar folklore. Its etymology is uncertain. A common theory is that Ilona is cognate with the Greek given name ''Helen''. Diminutive forms include ''Ilonka'' and ''Ilike''. Ilona is a common name in Finland,There are 25,000 women named Ilona in the Finnish Population RegisterName service/ref> where it is considered to refer to the Finnish word ''ilo'' ("joy") and ''ilona'' literally means "as a joy o someone. It is also common in Latvia, Estonia, France, Lithuania and Poland ( formerly in crown union with Hungary). People *Archduchess Ilona of Austria (1927-2011) *Ilona Andrews, joint pen name of American novelist duo Ilona and Andrew Gordon * Ilona Csáková (born 1970), Czech pop singer * Ilona Eibenschütz (1872–1967), Hungarian pianist * Ilona Elek (1907–1988), Hungarian world and Olympic champion saber fencer * Ilona Fehér (1901–1988), Hungarian violinist and teacher * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MSZP
The Hungarian Socialist Party ( hu, Magyar Szocialista Párt), commonly known by its acronym MSZP, is a centre-left social-democratic and pro-European political party in Hungary. It was founded on 7 October, 1989 as a post-communist evolution and one of two legal successors of the Hungarian Socialist Workers' Party (MSZMP). Along with its conservative rival Fidesz, MSZP was one of the two most dominant parties in Hungarian politics until 2010; however, the party lost much of its popular support as a result of the Őszöd speech, the consequent 2006 protests, and then the 2008 financial crisis. Following the 2010 election, MSZP became the largest opposition party in parliament, a position it held until 2018, when it was overtaken by the right-wing Jobbik. History The MSZP evolved from the communist Hungarian Socialist Workers' Party (or MSZMP), which ruled Hungary between 1956 and 1989. By the summer of 1989, the MSZMP was no longer a Marxist–Leninist party, and had been taken ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fidesz
Fidesz – Hungarian Civic Alliance (; hu, Fidesz – Magyar Polgári Szövetség) is a right-wing populist and national-conservative political party in Hungary, led by Viktor Orbán. It was formed in 1988 under the name of Alliance of Young Democrats () as a centre-left and liberal activist movement that opposed the ruling Marxist–Leninist government. It was registered as a political party in 1990, with Orbán as its leader. It entered the National Assembly following the 1990 parliamentary election, although, it lost two seats after the 1994 election. Following the election, it adopted liberal-conservatism which caused liberal members to leave and to join the Alliance of Free Democrats. It then sought to form a connection with other conservative parties, and after the 1998 election, it successfully formed a centre-right government. It adopted nationalism in the early 2000s, but its popularity slightly declined due to corruption scandals. It served in the opposition betw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shock Therapy (economics)
In economics, shock therapy is a group of policies intended to be implemented simultaneously in order to liberalize the economy, including liberalization of all prices, privatization, trade liberalization, and stabilization via tight monetary policies and fiscal policies. In the case of post-Communist states, it was implemented in order to transition from a command economy to a market economy. Overview Shock therapy is a program intended to economically liberalize a mixed economy or transition a planned economy or developmentalist economy to a free-market economy through sudden and dramatic neoliberal reform. Shock therapy policies generally include ending price controls, stopping government subsidies, privatizing state-owned industries, and tighter fiscal policies, such as higher tax rates and lowered government spending. In essence, shock therapy policies can be distilled to price liberalization accompanied by strict austerity. The first instance of shock therapy was the ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lajos Bokros
Lajos András Bokros (born 26 June 1954) is a Hungarian economist, who served as Minister of Finance from 1995 to 1996. He was a Member of the European Parliament for Hungary in the 2009–2014 session. He was the leader of the Movement for a Modern Hungary, which he founded in April 2013, and sat in the European Conservatives and Reformists group in the European Parliament. The Bokros package was named after him. Financial career Bokros was born in Budapest. He graduated from and holds a Ph.D. from the Budapest University of Economics. He successfully applied for the scholarship of University of Panama in 1976, where he learned to speak fluent Spanish. He wrote his dissertation on the industrialization, integration and common market developments in Central America. He was director of the State Property Agency of Hungary between 1990–1991. He was chairman and chief executive officer at the Budapest Bank between 1991–1995. He is a full professor (Department of Public Policy) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
László Békesi
László Békesi (born 31 May 1942) is a Hungarian politician, who served as Minister of Finance twice: between 1989-1990 and from 1994 to 1995. Biography Early life He was an athlete when he was ten years old, he was member of the national youth team. He finished high-school studies in Cegléd. He could have got into the university without admission one, because he was honored on the OKTV educational competition. However the Eötvös Loránd University did not admit him. According to the institution Békesi's material conditions were not provided for his learning, because his father died early. However the real reason was that he derived from a religious family. Békesi became a breadwinner, he worked for parish councils of Albertirsa and Dánszentmiklós. Later he was put it on for the College of Finance and Accountancy's evening course later. His teacher was Lajos Faluvégi, who later became Minister of Finance and dealt with the economical reform. From 1967 he worked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Parliamentary Election, 1994
Parliamentary elections were held in Hungary on 8 May 1994, with a second round of voting in 174 of the 176 single member constituencies on 29 May. Dieter Nohlen & Philip Stöver (2010) ''Elections in Europe: A data handbook'', p899 Nohlen & Stöver, p925 They resulted in the return to power of the Hungarian Socialist Party, the former Communist party, under the leadership of Gyula Horn, who became Prime Minister. The Socialists achieved a remarkable revival, winning an overall majority of 209 seats out of 386, up from 33 in 1990. The governing Hungarian Democratic Forum was severely defeated, falling from 165 seats to 38 for third place. It was also a disappointment for the principal opposition party of the previous parliament, the Alliance of Free Democrats The Alliance of Free Democrats – Hungarian Liberal Party ( hu, Szabad Demokraták Szövetsége – a Magyar Liberális Párt, SZDSZ) was a liberal political party in Hungary. The SZDSZ was a member of the Alliance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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