Economy of Hungary
Hungary is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Hungary may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Hungary exports around $92.98 billion and imports roughly $89.52 billion. 3.8% of population in the country are unemployed. The total number of unemployed people in Hungary is 368,176. In Hungary, 14.9% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Hungary is low, indicating that it has a stable economy. Investors should consider Hungary to be a safe location for investments and other financial ventures. Government expenditure on education is 5.2% of GDP. The Gini Index of the country is 24.7. Hungary is experiencing high equality. Differences in income among citizens are only mildly significant. Hungary has a Human Development Index (HDI) of 0.818. Hungary has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Hungary is 1.463. Due to strong law enforcement presence and high social responsibility, Hungary is very safe by international standards. The strength of legal rights index for Hungary is 10. Overall, it is considered to be rather strong – bancrupcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible.