Economy of Hungary

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The economy of Hungary is a medium-sized, structurally, politically and institutionally open economy in Central Europe and is part of the European Union's (EU) single market. Like most Eastern European economies, the economy of Hungary experienced market liberalisation in the early 1990s as part of the transition from socialist economy to market economy. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) since 1995,[3] a member of the World Trade Organization (WTO) since 1996,[4] and a member of the European Union since 2004.[5]

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