Hungary's economy

1. Hungary’s economy development
and presence

2. Foundation
●
The companies created in austro monarch were the back of
the economy and further to be used in the 20 century as the
main blood supply to the hungarian economy every one of
this company played majer role to become well known
industry players
●
Just to name a few corporation established in the second
part of the 19 century and prospered through in some case
over a 100 years after selling the state in the form of
privatazation enriching the inner circle:
– Weiss Manfréd corporation
– Ganz limited
– Pick
– Herz
– Egyesült izzólámpa és villamossági r.-t. Aka Tungsram
lightbulb manufacturing
– Globus canned products

3. 1918-1919
●
In the firs war ending and before
the trianon treaty were signed
there was a socialist interegnum
they nationalized instrumental
corporation which had significance
impact to the core economy and
try to implement socialist policy it
failed there was a coup d’état by
miklós horthy and he take the lead
for 24 years until oktober 15 1944

4. 1920-1945
●
István Bethlen (gray eminence) try to
stablize the economy by unpopular
policies reducing inflation by limiting
production capacity and enforcing
people to mandatory work helped the
country to get out from the
unfortunate circumstance and put the
country on a growing path, poverty
were a major issue especially after
the 1 world war and lot of people
immigrated to the usa

5. 1920-1945
●
During 1920-1945, Hungary's economy
faced immense challenges, exacerbated
by the aftermath of World War I and the
Treaty of Trianon, which significantly
reduced its territory and resources. The
Great Depression further crippled the
economy, leading to widespread
unemployment and social unrest. Under
the authoritarian rule of Miklós Horthy.
●
Hungary pursued protectionist policies and
limited industrialization efforts, but
economic vulnerability persisted. World
War II brought further devastation, with the
country aligning with Nazi Germany and
suffering significant losses.
●
Ultimately, the period ended with Hungary
falling under Soviet influence, marking a
shift towards centralized economic
planning and state control.

6. 1945-1990
●
Socialist take charge after 1945 they nationalized privately held companies
turned it into major companies like Csepel Vas, Globus , Taurus, Ganz,
Tungsram
●
Centralized economy based on orders and planned milestones between the
socialist countries in KGST left not a lot of wiggle room for global market
obviously there were few exception but created
●
an economy which treated the citizens as a shareholder but in reality they
had no say so how to manage their porfolio
●
Not big variety of choice but a certain low level prosperity could be told
about the socialist era

7. 1945-1990

8. 1990-2024
●
After introducing the privatazation by MDF continuing the path MSZP-SZDSZ the
country become left without heavy industry the majorities of the companies were sold to
western conglomerates who fired the employes and closed the factory there are few
exception like danone or egis
●
Those companies which privatized by hungarians used the facilities infrastructure’s
equipment and sell it to western buyers enriching themselves what they can not faciliate
in the previous regime due to dialectal materialism
●
No hungarian owned factories no export more import creates debt and major issues
that gets the country in a very deep hole and gets dependent to foreign’s companies will
●
More than 300 thousand people were on wellfare after the nototrius privatization in the
90’s

9. 1990-2024
●
The current raining government tries to
creat industry by creating permanent
employment by bringing companies to
invest to the hungarian economy
●
The problem with this method these
companies benefit on hungarian
workforce and the profit they made
here will be not spend in the hungarian
economy they will take it home and to
change the loop hungary have to creat
heavy industry create protectionist line
for hungarian products otherwise the
country will never be a major player in
the central europe region