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Finance of Hungary

The minimum monthly wage in Hungary is 530 USD. With regard to consumer prices, the inflation rate in Hungary is 1.9%. The currency of Hungary is Hungarian forint. The plural form of the word Hungarian forint is forints. The symbol used for this currency is Ft, and it is abbreviated as HUF. The Hungarian forint is divided into filler; there are 100 in one forint. Each year, consumers spend around $32,180 million. The ratio of consumer spending to GDP in Hungary is 0.02%, and the ratio of consumer spending to the world consumer market is 9.28%. The corporate tax in Hungary is set at 19%. VAT in Hungary is 27%.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Hungary is $247,113 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Hungary was last recorded at $25,504,892. PPP in Hungary is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Hungary is 133,424 billion. Based on this statistic, Hungary is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Hungary was last recorded at $13,770,885. The average citizen in Hungary has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Hungary averaged 2.8% in 2014. According to this percentage, Hungary is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.