13
Communists:
fewer than 100,000 (December 1989)

:Hungary Government

Member of:
BIS, CCC, CE, CSCE, ECE, FAO, G-9, GATT, HG, IAEA, IBRD, ICAO, IDA, IFC,
ILO, IMF, IMO, INTERPOL, IOC, IOM (observer), ISO, ITU, LORCS, NACC, NSG,
PCA, UN, UNCTAD, UNESCO, UNIDO, UNIIMOG, UPU, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation:
Ambassador Pal TAR; Chancery at 3910 Shoemaker Street NW, Washington, DC
20008; telephone (202) 362-6730; there is a Hungarian Consulate General in
New York
US:
Ambassador Charles THOMAS; Embassy at V. Szabadsag Ter 12, Budapest (mailing
address is APO AE 09213-5270); telephone [36] (1) 112-6450; FAX 132-8934
Flag:
three equal horizontal bands of red (top), white, and green

:Hungary Economy

Overview:
Hungary is in the midst of a difficult transition between a command and a
market economy. Agriculture is an important sector, providing sizable export
earnings and meeting domestic food needs. Industry accounts for about 40% of
GDP and 30% of employment. Hungary claims that less than 20% of foreign
trade is now with former CEMA countries, while about 70% is with OECD
members. Hungary's economic reform programs during the Communist era gave it
a head start in creating a market economy and attracting foreign investment.
In 1990, Hungary received half of all foreign investment in Eastern Europe
and in 1991 received the largest single share. The growing private sector
accounts for one-quarter to one-third of national output according to
unofficial estimates. Privatization of state enterprises is progressing,
although excessive redtape, bureaucratic oversight, and uncertainties about
pricing have slowed the process. Escalating unemployment and high rates of
inflation may impede efforts to speed up privatization and budget reform,
while Hungary's heavy foreign debt will make the government reluctant to
introduce full convertability of the forint before 1993.
GDP:
purchasing power equivalent - $60.1 billion, per capita $5,700; real growth
rate - 7% (1991 est.)
Inflation rate (consumer prices):
34% (1991 est.)
Unemployment rate:
8.0% (1991)
Budget:
revenues $12.7 billion; expenditures $13.6 billion (1992 planned)
Exports:
$10.2 billion (f.o.b. 1991)
commodities:
capital goods 25.9%, foods 23%, consumer goods 16.5%, fuels 2.4%, other
32.2%
partners: