Hungary
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About Hungary
Hungary is a landlocked country located in Central Europe, northwest of Romania, covering an area of approximately 93,028 square kilometers. As of 2024, Hungary has a population of about 9.9 million, with Hungarian as the official language spoken by 98.8% of residents. The country features mostly flat to rolling plains with hills and low mountains on the Slovakian border, experiencing a temperate climate of cold, cloudy, humid winters and warm summers. Budapest serves as the capital, and the government operates as a parliamentary republic.
Hungary has a high-income economy with a GDP of $222.91 billion and a GDP per capita of $40,700, driven by mining, metallurgy, construction materials, processed foods, textiles, chemicals, and motor vehicle manufacturing. Key agricultural products include maize, wheat, barley, milk, sunflower seeds, and grapes, while natural resources include bauxite, coal, natural gas, and fertile soils. The unemployment rate is 4.5% as of 2025, and the population enjoys a life expectancy of 76.7 years. As a member of the European Union and OECD, Hungary continues to pursue economic growth, though it faces challenges including high fiscal deficits and frozen access to certain EU funds.
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Economic Overview
high-income EU and OECD economy; modest recovery from 2024 recession driven by private consumption and moderated inflation; challenges include high fiscal deficits, frozen access to EU funds, and risks from export reliance; implementing tax exemptions, price controls, and mortgage interest caps ahead of 2026 elections
