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The leader of the pack. (Hungary's transformation into a market economy)

Hungary has a good chance of becoming the first country in the formerly communist east and central Europe to develop a fully-fledged market economy. It has already created a market-based legal and institutional environment, and has nearly completed a program to liberalize trade, prices, interest rates and foreign exchange transactions. The government has also accelerated the pace of the privatization process, which is now approaching its final phase.

Hungary was first out of the blocks in the race towards a fully market economy. And despite some difficult moments, Hungary is still out in front as privatisation picks up pace.

It would be logical if Hungary, the first country in ...

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