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Hungary (Hungarian: Magyarország), officially in English the Republic of Hungary (Magyar Köztársaság, literally Hungarian Republic), is a landlocked country in Central Europe, bordered by Austria, Slovakia, Ukraine, Romania, Serbia, Croatia, and Slovenia. Its capital is Budapest.
Hungary has been a member state of the European Union since May 1, 2004.
Hungary continues to demonstrate economic growth as one of the newest member countries of the European Union (since 2004). The private sector accounts for over 80% of GDP. Hungary gets nearly one third of all foreign direct investment flowing in to Central Europe. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totalling more than US$23 billion since 1989. The Hungarian sovereign debt’s credit rating is BBB+ as of July 2006, making Hungary the only other country in the EU apart from Poland not to enjoy an A grade score. Inflation and unemployment have been on the rise in the past few years, and they are expected to rise further. Foreign investors’ trust in the Hungarian economy has declined, as they deem that the stringency measures planned in the second half of 2006 are not satisfactory, their focus being mainly on increasing the income side rather than curbing government spendings. Economic reform measures such as health care reform, tax reform, and local government financing are being addressed by the present government.
The Hungarian government has expressed a desire to adopt the euro currency between 2010 and 2014. However, foreign analysts widely criticised that date (2010) as highly unrealistic given the current shape of the economy in relation to the Maastricht criteria; their assessments suggest that a date of 2013-2014 for Euro adoption is more realistic.
Approximately slightly more than one half of Hungary’s landscape consists of flat to rolling plains of the Carpathian Basin: the most important plain regions include the Little Hungarian Plain in the west, and the Great Hungarian Plain in the southeast. The highest elevation above sea level on the latter is only 183 metres.
Transdanubia is a primarily hilly region with a terrain varied by low mountains. These include the very eastern stretch of the Alps, Alpokalja, in the west of the country, the Transdanubian Medium Mountains, in the cental region of Transdanubia, and the Mecsek Mountains and Villány Mountains in the south. The highest point of the area is the Írott-kő in the Alps, at 882 metres.
The highest mountains of the country are located in the Carpathians: these lie in the northern parts, in a wide band along the Slovakian border (highest point: the Kékes at 3,327 ft; 1,014 m).
Hungary is divided in two by its main waterway, the Danube (Duna); other large rivers include the Tisza and Dráva, while Transdanubia contains Lake Balaton, a major body of water. The largest thermal lake in the world, Lake Hévíz (Hévíz Spa), is located in Hungary. The second largest lake in the Carpathian Basin is the artificial Lake Tisza (Tisza-tó).
For 95% of the population, mostly Hungarians, the mother tongue is Hungarian, a Finno-Ugric language unrelated to any neighbouring language and distantly related to Finnish and Estonian. Several ethnic minorities exist: Roma (2.1%), Germans (1.2%), Slovaks (0.4%), Croats (0.2%), Romanians (0.1%), Ukrainians (0.1%), and Serbs (0.1%).
Hungarian cuisine is also a prominent feature of Hungarian culture, with traditional dishes such as goulash (gulyás or gulyásleves) a main feature of the Hungarian diet. Dishes are often flavoured with paprika. Stews are often to be found with typical elements such as pork or beef, for example as used in pörkölt.
One of the most famous Hungarians is the footballer Ferenc Puskás (1927 – 2006). He scored 84 goals in 85 internationals for Hungary, and 511 goals in 533 matches in the Hungarian and Spanish leagues. Puskás played the 1954 World Cup final against West Germany. In 1958, after the Hungarian Revolution, he emigrated to Spain where he played in the legendary Real Madrid team that also included Alfredo Di Stéfano, and Francisco Gento.
Hungarians are also known for their prowess at water sports, mainly swimming, water polo and canoeing; this can be said to be surprising at first, due to Hungary being landlocked. On the other hand, the presence of two major rivers (the Duna and the Tisza) and a major lake (Balaton) give excellent opportunities to practice these sports.
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