Hungary: A Country Hit Hard

Abstract

Until its EU accession Hungary – from an economic point of view – had always been considered a role model for all other accession candidates among the CEE. However, in the following years it lost its distinguished position and fell behind other new member countries. The reasons for this development towards a country with serious problems, as Hungary is now being regarded by many economic analysts, may be found in a reluctant and hesitant approach by any post-accession government to bring about necessary structural reforms, but also in the impact of the world financial and economic crisis on Hungary which we would like to describe in the present chapter.