Hungarian economy is weak in the EU, but is it considered weak outside of it?
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The Hungarian economy and living standards are not soaring high. But what if we make an unusual comparison with countries outside of the EU?
Hungary has a peculiar position in the European Union. Despite being part of the bloc for almost 20 years now, living standards are still somewhat behind the European average. But what if, for a change, we compare Hungary with the rest of the world? That’s exactly what napi.hu did.
Strong European field
If we compare Hungary with other EU member states (plus EFTA members and the UK), in terms of average net wages, Hungary is only staying ahead of Romania and Bulgaria. According to IMF data, Hungary is still ahead of Croatia in terms of GDP per capita.
This picture is not that obviously bleak if we compare Hungary with the six non-EU member Balkan countries (Serbia, Montenegro, Bosnia, Albania, Kosovo, and northern Macedonia). Belarus, Moldova, and now more than ever Russia and Ukraine are still lagging behind Hungary.
What about the rest of the world?
Hungary’s geographical and natural limitations mean that it cannot compete with a number of countries on purely economic grounds. For a more fair comparison, we must exclude the city-states, such as Singapore, oil countries such as Saudi Arabia, and small tourist paradises that have based their national economies on a single sector, tourism.
YES – viewed and opinionated, from those who know and UNDERSTAND – the over-all Financial & Economic componentry, that they use, in a module, to pass comment, on the State of a Country.
Hungary – no Stability – Political outlook is MASSIVELY Volatile.
Hungary – no Sustainability of Economic or Financial functionality/operation.
Hungary – no GROWTH.
Hungary – no INVESTMENT.
Hungary – ageing population.
Hungary – declining population.
Hungary – currency of the Forint – STRESSED.
The Global World know of our PLIGHT but DO we?