To feel the icy breath of Romania on the back of Hungary
Based on the World Bank’s long-term data series, compared 24 h The performance of the Hungarian economy between 1995 and 2020 based on GDP per capita. At the start of the development competition, Slovenia was in the lead. The average citizen of our southwestern neighbor made $10,730 in 1995, while the “average Czech” made $5,824. Thus the development of the Slovenes was twice that of the Czechs with the “silver medal”. The third was Croatia with $4,878 per capita, the fourth with Slovakia (4,818) and the fifth with Hungary with $4,495.
The 3,687 index of the Poles behind us was only 82 percent of Hungary’s development, but this was the result of a very dynamic catch-up: Poland increased its development by 150 percent between 1989 and 2019, while Hungary achieved only a 50 percent increase during that. time. In 1995, the Estonians were far behind us, at $3,134 per capita, and by 2020 they had become the second most advanced country in the region: they produced an “average” value of more than $23,000 last year. Hungary’s per capita GDP has risen to $15,000 by 2020, which means that Hungarians will reach two-thirds of Estonia’s development after 26 years, while in 1995 the rate was just the opposite: then Estonians were weaker and Hungarians at 69 percent .
The first decade of the new millennium saw a stagnation, partly due to the spending of liberal social governments, partly due to the global financial and economic crisis, and then in 2013 the setback began. Hungary climbed to eighth place ahead of Croatia. Then in 2015, we took seventh place, ahead of Poland. We are ranked seventh in the region Still. If we look at the statistics for the 2015 dollar, that is, at the fixed exchange rate, Hungary was worse, ranking eighth in the region. Moreover, the decline in Hungary is more dramatic in this respect, since in 1995 we were still third in the region after the Slovenes and the Czechs.