Economy and politics in Hungary during 2nd Orbán government period

Gősi, János and Gál, József: Economy and politics in Hungary during 2nd Orbán government period. Review of faculty of engineering : analecta technica Szegedinensia, (8) 1. pp. 22-26. (2014)

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The 2nd Orbán government and the more than two-thirds parliamentary majority behind a relatively heavy heritage took over in the summer of 2010. The left-liberal governments of GDP in 2006-2009, reaching 12% of the size of austerity (expenditure cuts and tax lifting) as a result of Hungary's policy is not developed in a similar situation as the crisis in Greece. The most difficult years of the crisis – between March and June 2009 – the international debt financing market premium for loans fall from six percent to two, the euro exchange rate is reduced from 270 to 315 HUF. The 2nd Orbán government's so-called unorthodox economic policies – which happened to break with the IMF and serious political disagreements with the EU has been associated with – as a result of increased to HUF exchange rate of 300, the premium at the end of 2011 exceeded 6% again; currently around 3%, although the EU abolished the excessive deficit procedure against Hungary, and the sixth year of the current account is positive. Hungary's GDP after a 6.7% decline in 2009, in 2010 – faster than expected – increased by 1.2%, in 2011 was only 0.7% in 2012 and 1.7 % drop. Accelerated use of the 2007-2013 periods, EU investment funds due to a 1-1.5% in 2014 and expected in 2013 2-2.5% growth. The Hungarian economic performance in the last decade since EU accession has been at average of less than 0.5% per year increased. The durable and – at least – from 2.5 to 3.5% growth per year have failed to materialize in the domestic political economy foundations between 2010 to 2014.

Item Type: Article
Journal or Publication Title: Review of faculty of engineering : analecta technica Szegedinensia
Date: 2014
Volume: 8
Number: 1
Page Range: pp. 22-26
ISSN: 2064-7964
Language: angol
Uncontrolled Keywords: Gazdaságpolitika - Magyarország - 21. sz.
Additional Information: Bibliogr.: p. 25-26. ; összefoglalás angol nyelven
Date Deposited: 2017. Jul. 04. 16:59
Last Modified: 2019. Jan. 03. 13:45

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