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Energy Policy and the Hungarian Economy

October 26, 2012 — gkienergia

After the political changes in the 90’s the Hungarian economy underwent  a significant structural change which was characterised by the gradual decline of energy-intensive industries, activities. As a result since the middle of the 90’s, with the significant increase of gross domestic product (GDP) the total primary gross energy consumption has been stagnating. It increased only in 2000-2005, when economic growth was the strongest...

"The Hungarian economy and the energy situation and prospects for 2012-2013" short-term forecast published

The outlook of the Hungarian economy does not seem to be very bright for 2012-2013. In the best case GDP. on average, will be stagnating during these years. The present economic policy has caused serious confidence crisis among economic players and potential investors. The present economic situation foreshadows worsening economic tendencies. Another economic recession is forecast in Hungary for 2012, a decline by 1.5 per cent for GDP, by 2.5 per cent for consumption and by 4 per cent for investments is expected, only the trade balance will improve. 

Energy prices and the economy

September 15, 2005 — gkienergia

One of the most important positive aspects of Hungary’s transformation and switch to a market economy has been a significant decrease in its hunger for energy. Although Hungary’s GDP is roughly 30% higher in 2005 than it was at the start of transition, its total energy consumption is still just 87% of its level at that time. Energy consumption per unit of GDP is now nearly 50% of its level before transition. Both a clear change in economic structure and dramatic increases in energy prices have played a role in these developments.