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Forints
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 f ... [...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] |
Hungary And The Euro
While the Hungarian government has been planning since 2003 to replace the Hungarian forint with the euro, , there is no target date and the forint is not part of the European Exchange Rate Mechanism (ERM II). An economic study in 2008 found that the adoption of the euro would increase foreign investment in Hungary by 30%, although current governor of the Hungarian National Bank and former Minister of the National Economy György Matolcsy said they did not want to give up the country's independence regarding corporate tax matters. Adopting the euro Under the socialist governments between 2002 and 2010 Hungary originally planned to adopt the euro as its official currency in 2007 or 2008. Later 1 January 2010 became the target date, but that date was abandoned because of an excessively high budget deficit, inflation, and Government debt, public debt. For years, Hungary could not meet any of the Maastricht criteria. After the 2006 election, Prime Minister Ferenc Gyurcsány introduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Pengő
The pengő (; sometimes written as ''pengo'' or ''pengoe'' in English) was the currency of Kingdom of Hungary (1920–46), Hungary between 1 January 1927, when it replaced the Hungarian korona, korona, and 31 July 1946, when it was replaced by the Hungarian forint, forint. The pengő was subdivided into 100 fillér. Although the introduction of the pengő was part of a post-World War I stabilisation program, the currency survived for only 20 years and experienced the most serious case of hyperinflation ever recorded. Name The Hungarian participle ''pengő'' means 'ringing' (which in turn derives from the verb ''peng'', an Onomatopoeia, onomatopoeic word equivalent to English 'ring') and was used from the 15th to the 17th century to refer to silver coins making a ringing sound when struck on a hard surface, thus indicating their precious metal content. (The onomatopoeic word used for gold coins is ''csengő'', an equivalent of English 'clinking' meaning a sharper sound; the particip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florin
The Florentine florin was a gold coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains (3.499 grams, 0.113 troy ounce) of nominally pure or 'fine' gold with a purchasing power difficult to estimate (and variable) but ranging according to social grouping and perspective from approximately 140 to 1,000 modern US dollars. The name of the coin comes from the ''Giglio bottonato'' ( it), the floral emblem of the city, which is represented at the head of the coin. History The ''fiorino d'oro'' (gold florin) was used in the Republic of Florence and was the first European gold coin struck in sufficient quantities since the 7th century to play a significant commercial role. The florin was recognized across large parts of Europe. The territorial usage of the '' lira'' and the florin often overlapped, where the lira was used for smaller transactions (wages, food purchases), the florin was for larger transactions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Language
Hungarian () is an Uralic language spoken in Hungary and parts of several neighbouring countries. It is the official language of Hungary and one of the 24 official languages of the European Union. Outside Hungary, it is also spoken by Hungarian communities in southern Slovakia, western Ukraine ( Subcarpathia), central and western Romania (Transylvania), northern Serbia (Vojvodina), northern Croatia, northeastern Slovenia (Prekmurje), and eastern Austria. It is also spoken by Hungarian diaspora communities worldwide, especially in North America (particularly the United States and Canada) and Israel. With 17 million speakers, it is the Uralic family's largest member by number of speakers. Classification Hungarian is a member of the Uralic language family. Linguistic connections between Hungarian and other Uralic languages were noticed in the 1670s, and the family itself (then called Finno-Ugric) was established in 1717. Hungarian has traditionally been assigned to the Ugric alo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paper Money Of The Hungarian Pengő
Hungarian pengő paper money ( hu, pengő papírpénz) was part of the physical form of Hungary's historical currency, the Hungarian pengő. Paper money usually meant banknotes, which were issued (either in fact or in name) by the Hungarian National Bank. Later – during and after World War II – other types of paper money appeared, including emergency money, bonds and savings certificates. Initially, paper money was designed abroad, and printed using simple methods. Later, more advanced techniques were used, creating banknotes which reflected stability. After the war, in parallel with their loss in value, the quality of banknotes decreased. Finally, not even serial numbers were printed on the notes. Banknotes First series (1926) The first series of pengő banknotes were printed in 1926 in the following denominations: 5 P, 10 P, 20 P, 50 P, and 100 P. All these banknotes were designed by Ferenc Helbing. Due to the poor printing technology (offset printing) counterfeits appeared ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Communist Party
The Hungarian Communist Party ( hu, Magyar Kommunista Párt, abbr. MKP), known earlier as the Party of Communists in Hungary ( hu, Kommunisták Magyarországi Pártja, abbr. KMP), was a communist party in Hungary that existed during the interwar period and briefly after World War II. It was founded on November 24, 1918, as Party of Communists in Hungary, and was in power between March and August 1919 when Béla Kun ran the short-lived Hungarian Soviet Republic. The communist government was later overthrown by the Romanian Army, Kun was exiled to Vienna and later he including many other communists moved to Moscow and during those years membership was becoming smaller every year. During World War II the party changed its name to Peace Party but only a year later in 1944, they embraced a new name which they will hold until 1948. After the war, they regained power and their membership rose up quickly which led to Mátyás Rákosi suppressing other parties in the country besides the so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Democratic Party Of Hungary
The Social Democratic Party of Hungary ( hu, Magyarországi Szociáldemokrata Párt, MSZDP) is a social democratic political party in Hungary. Historically, the party was dissolved during the occupation of Hungary by Nazi Germany (1944–1945) and the communist period of Hungary from 1948 to 1989, after being forced into a merger with the Communist Party. It worked legally for a short time during the Revolution of 1956. It was a government party as a part of the Károlyi Government (1918–1919), Berinkey Government, Peidl Government (1919), Interim National Assembly (1944–1945) and Dinnyés Government (1947–1948). It was reorganized after Hungary's transition from communism in 1989. MSZDP used to be a member of the Socialist International and the Party of European Socialists until 2020, when it was delisted from both due to inactivity. Overview Hungary as part of Austria-Hungary: *1868–1890 The ''General Workers Association'' (''Általános Munkásegylet'') ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1945 Hungarian Parliamentary Election
Parliamentary elections were held in Hungary on 4 November 1945. Dieter Nohlen & Philip Stöver (2010) ''Elections in Europe: A data handbook'', p899 They came at a turbulent moment in the country's history: World War II had had a devastating impact; the Soviet Union was occupying it, with the Hungarian Communist Party growing in numbers; a land reform that March had radically altered the property structure; and inflation was rampant. In what is generally reckoned as the first relatively free election in the country's history, the Independent Smallholders Party won a sweeping victory. However, the Smallholders' gains were gradually whittled away by Communist salami tactics, fulfilling the prediction of Communist leader Mátyás Rákosi that the defeat would "not play an important role in Communist plans". Background Elections (which had not taken place since 1939) were required by the Yalta Agreement; moreover, the revolutionary social and political changes of 1945 were effecte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Smallholders' Party
The Independent Smallholders, Agrarian Workers and Civic Party ( hu, Független Kisgazda-, Földmunkás- és Polgári Párt), known mostly by its acronym FKgP or its shortened form Independent Smallholders' Party ( hu, Független Kisgazdapárt), is a political party in Hungary. Since the 2002 parliamentary elections, the party has won no seats. History Founded on 12 October 1930, the party was one of the largest anti-fascist opposition parties in the 1930s and during World War II. Representing the interests of landed peasants along with some poor peasants and urban middle class, it advocated for land reform and democratization. Its members opposed Hungary's participation in World War II, giving anti-fascist speeches in Parliament and leading rallies as late as 1943. During the German occupation of Hungary, its members took part in the clandestine anti-fascist resistance movement, and played a major role in the provisional government established in the Soviet-occupied zone of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USSR
The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, it was nominally a federal union of fifteen national republics; in practice, both its government and its economy were highly centralized until its final years. It was a one-party state governed by the Communist Party of the Soviet Union, with the city of Moscow serving as its capital as well as that of its largest and most populous republic: the Russian SFSR. Other major cities included Leningrad (Russian SFSR), Kiev ( Ukrainian SSR), Minsk ( Byelorussian SSR), Tashkent (Uzbek SSR), Alma-Ata (Kazakh SSR), and Novosibirsk (Russian SFSR). It was the largest country in the world, covering over and spanning eleven time zones. The country's roots lay in the October Revolution of 1917, when the Bolsheviks, under the leadership of Vladimir Lenin, overthrew the Russian Provisional Gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
