- Hungary and the euro
Hungaryintends to replace the forint on or after 1 January 2013, depending on Hungary's economic performance. Currently, there is no target date and the forint is not part of ERM II. However, because of the reduced budget deficit, Goldman Sachs sees an improved chance for 1 January 2013to be the date of adoption, instead of 2014. [cite web | url=http://www.fn.hu/makro/20080708/egy_evvel_korabban_lehet_euronk/ | title=We can have the euro in 2013?(in Hungarian) | publisher=FN.hu | accessdate=2008-07-12]
Adopting the euro
Hungary originally planned to adopt the euro as its official currency on
1 January 2010, but that date has been abandoned because of the excessively high budget deficit.
8 July 2008, Finance Minister János Veres announced the first draft of euro-adoption plan. Though a timeline has still not been set, if the country's ongoing convergence program makes it possible, next year Hungary could apply for entrance to the ERM II system; this would be a major step for the euro adoption. [cite web | url=http://www.realdeal.hu/20080708/hungary-rolls-out-first-draft-of-euroadoption-plan | title=Hungary rolls out first draft of euro-adoption plan | publisher=Hungary's international business daily | accessdate=2008-07-09]
Currently, the yearly budget deficit accounts for 6% of GDP, while public debt accounts for 69% of GDP. [cite web | url=https://www.cia.gov/library/publications/the-world-factbook/geos/hu.html | publisher=
CIA| title=The World Factbook - Hungary | accessdate=2008-07-09]
Hungarian euro coins have not yet been designed. Current plans indicate that the national side is to be designed in 2009.
Wikimedia Foundation. 2010.
Look at other dictionaries:
Denmark and the euro — EU Eurozone (17) … Wikipedia
Montenegro and the euro — EU Eurozone (17) … Wikipedia
European Commissioner for Economic and Monetary Affairs and the Euro — Incumbent Olli Rehn since 9 February 2010 … Wikipedia
Czech Republic and the euro — EU Eurozone (17) … Wikipedia
International status and usage of the euro — Worldwide use of the euro and US$: Eurozone … Wikipedia
Linguistic issues concerning the euro — Several linguistic issues have arisen in relation to the spelling of the words euro and cent in the many languages of the member states of the European Union, as well as in relation to grammar and the formation of plurals.The official ruling is… … Wikipedia
Criteria for Joining the Euro Zone — ▪ 2005 When the European Union s 10 newest members (Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia) officially joined the EU on May 1, 2004, they faced many challenges, but perhaps the … Universalium
Oggy and the Cockroaches — Title Format Animated Comedy Created by Jean Yves Raimbaud Terry Klassen Country of orig … Wikipedia
Hungary — This article is about the European country. For other uses, see Hungary (disambiguation). Republic of Hungary Magyar Köztársaság … Wikipedia
Hungary — /hung geuh ree/, n. a republic in central Europe. 9,935,774; 35,926 sq. mi. (93,050 sq. km). Cap.: Budapest. Hungarian, Magyarország. * * * Hungary Introduction Hungary Background: Hungary was part of the polyglot Austro Hungarian Empire, which… … Universalium