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Paper Money Of The Hungarian Adópengő
The adópengő bonds and certificates served as money in the last days before the introduction of the Hungarian forint. Tax bills '' Adópengő'' (tax-pengő) was introduced on 1 January 1946. The aim was to create a numerical basis for budget calculations, which was independent from the daily changes. The index was created daily by the Institute for Economic Research (then: ''Magyar Gazdaságkutató Intézet'', now''GKI Gazdaságkutató Zrt.'' based on retail prices (weights: food and other agricultural products: 50%, industrial products (market price): 30%, and industrial products (fixed price): 20%). The so-called ''adójegy'' (tax bill - a bond for ''adópengő'' with two months maturity) was introduced in May 1946. First, tax bills were used to pay taxes and to register bank deposits and bank credits. From 23 June it was also used to pay public utility charges and from 8 July it became a legal tender Legal tender is a form of money that courts of law are required to rec ... [...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] |
