KDNP 22, FiDeSz 20, other 2

Judicial branch: Constitutional Court, judges are elected by the
National Assembly

Political parties and leaders: Hungarian Democratic Forum (MDF),
Lajos FUR, chairman; Independent Smallholders (FKgP), Jozsef
TORGYAN, president; Hungarian Socialist Party (MSzP), Gyula HORN,
president; Christian Democratic People's Party (KDNP), Gyorgy GICZY,
president; Federation of Young Democrats (FiDeSz), Viktor ORBAN,
chairman; Alliance of Free Democrats (SzDSz), Ivan PETO, chairman
note: the Hungarian Socialist (Communist) Workers' Party (MSzMP)
renounced Communism and became the Hungarian Socialist Party (MSzP)
in October 1989; there is still a small MMP

International organization participation: Australia Group, BIS,
CCC, CE, CEI, CERN, EBRD, ECE, EU (applicant), FAO, G- 9, IAEA,
IBRD, ICAO, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, Intelsat,
Interpol, IOC, IOM, ISO, ITU, MINURSO, MTCR, NACC, NAM (guest), NSG,
OAS (observer), OECD, OSCE, PCA, PFP, UN, UNAVEM III, UNCTAD,
UNESCO, UNHCR, UNIDO, UNIKOM, UNMOT, UNOMIG, UNU, UPU, WEU
(associate partner), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC

Diplomatic representation in US:
chief of mission: Ambassador Gyorgy BANLAKI
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

US diplomatic representation:
chief of mission: Ambassador Donald M. BLINKEN
embassy: V. Szabadsag Ter 12, Budapest
mailing address: Am Embassy, Unit 1320, APO AE 09213-1320
telephone: [36] (1) 267-4400, 269-9331
FAX: [36] (1) 269-9326

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

Economy
-------

Economic overview: Hungary, probably the most Western-oriented
economy in East Europe before the transition to a market system
began in 1990, made good progress in the initial years of
transition. The reform process slowed in 1993-94, however, in part
because of the May 1994 elections and the resulting change in
government. By 1994 the privatization of state firms had ground to a
halt, while both the budget and current account deficits soared to
unsustainable levels - about 8% and 10% of GDP, respectively. The
situation improved sharply in 1995; an austerity program introduced
in March reduced both deficits, and a renewed privatization effort
later in 1995 resulted in more than $3 b