O, ITU, MINURSO, NAM
(guest), NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, PFP,
UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM, UNMIBH, UNMIK,
UNMOGIP, UNOMIG, UNU, UPU, WCL, WEU (associate), WFTU, WHO, WIPO,
WMO, WToO, WTrO, ZC

Diplomatic representation in the US: chief of mission: Ambassador
Geza JESZENSZKY

chancery: 3910 Shoemaker Street NW, Washington, DC 20008

telephone: [1] (202) 362-6730

FAX: [1] (202) 966-8135

consulate(s) general: Los Angeles and New York

Diplomatic representation from the US: chief of mission: Ambassador
Peter F. TUFO

embassy: Szabadsag Ter 12, H.-1054 Budapest

mailing address: pouch: American Embassy Budapest, 5270 Budapest
Place, Department of State, Washington, DC 20521-5270

telephone: [36] (1) 475-4400, 475-4703 (after hours)

FAX: [36] (1) 475-4764

Flag description: three equal horizontal bands of red (top), white,
and green

Hungary Economy

Economy - overview: Hungary continues to demonstrate strong economic
growth and to work toward accession to the European Union. The
private sector accounts for over 80% of GDP. Foreign ownership of
and investment in Hungarian firms is widespread, with cumulative
foreign direct investment totaling $23 billion by 2000. Hungarian
sovereign debt was upgraded in 2000 to the second-highest rating
among all the Central European transition economies. Inflation - a
top economic concern in 2000 - is still high at almost 10%, pushed
upward by higher world oil and gas and domestic food prices.
Economic reform measures such as health care reform, tax reform, and
local government financing have not yet been addressed by the ORBAN
government.

GDP: purchasing power parity - $113.9 billion (2000 est.)

GDP - real growth rate: 5.5% (2000 est.)

GDP - per capita: purchasing power parity - $11,200 (2000 est.)

GDP - composition by sector: agriculture: 5%

industry: 35%

services: 60% (2000 est.)

Population below poverty line: 8.6% (1993 est.)

Household income or consumption by percentage share: lowest 10%:
3.9%

highest 10%: 24.8% (1996)

Inflation rate (consumer prices): 9.8% (1999 est.)

Labor force: 4.2 million (1997)

Labor force - by occupation: services 65%, industry 27%, agriculture
8% (1996)

Unemployment rate: 9.4% (2000 est.)

Budget: revenues: $13 billion

expenditures: $14.4 billion, including capital expenditures of $NA
(2000 est.)

Industries: mining, metallurgy, co