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Article: Can Hungary sustain growth?
- Article from:
- Market Europe
- Article date:
- August 1, 2005
CopyrightCOPYRIGHT 2005 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Consumers in Hungary are among the more prosperous of the "new" countries to join the European Union (EU). The International Monetary Fund says that Hungary's per capita income will reach US$16,338 in 2005. Per capita income for the first five years of the past decade was $10,844. And for the second five years of the decade was $14,668.
Hungary joined the EU in May 2004.
Since that time economic progress has been swift and solid. Average growth in GDP for the decade was 3.8 percent.
The government had a struggle with inflation, but has managed to get it partly under control. The average annual growth in the rate of inflation for the first five ...