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Electronics Production | May 09, 2008

Slovakia leads Eastern European development

In the early 2000s, Hungary was one of the most developed countries in Eastern Europe. However, many of it regional peers have outdone Hungary since then.
Eurostat states in its latest reports that the per capita gross domestic product in Hungary will reach 63% of the EU average this year. Meanwhile, economic growth in other countries in the region increased.

Hungary was the only country that failed to show progress in the past four years, while the indicator of the Baltic States and Slovakia improved by 20-25 percentage points since 2000, reports portfolio. This means that Hungary has lost touch with the Slovenia and the Czech Republic. Furthermore Estonia and Slovakia have also developed stronger and have overtaken Hungary in the development race.

Over the past years, even Latvia has increased its development efforts and had its per capita gross domestic product will come close to that of Hungary. The new Eurostat figures paint a grim picture as Hungary may fall to the lower five-member group.




Image source: Cofidur

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