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Overseas business risk for Hungary

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Overseas business risk for Hungary

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Information on key security and political risks which UK businesses may face when operating in Hungary.

1.Political and economic

Hungary is a parliamentary republic and a multiparty democracy. Hungary is a member of the North Atlantic Treaty Organization (NATO), the Organization for Security and Co-operation in Europe (OSCE), and the European Union (EU).

The last general election was held on 3 April 2022. The governing Fidesz party – in alliance with the Christian Democrats (KDNP) – secured a two-thirds majority in Parliament (for the fourth time in a row), which allows them to amend a special class of laws including the Fundamental Law (the Constitution). The Democratic Coalition (DK) is the largest opposition party.

Hungary is a high-income country (GDP per capita was 17,296 USD in 2022) with a mixed and open economy and a positive trade balance.

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