SUMMARY:
The declared aim of Hungary is –as presented in the National Energy Strategy- to proceed towards a sustainable, low-carbon, energetically efficient economy. The main goal of the Energy Strategy is the decrease of energy dependency by energy efficiency, high ratio of renewable energy sources, nuclear energy and joining to the European energy infrastructure. Hungary intends to rely more on renewable energy sources, mainly solar energy. However, as it turns out from the recently adopted Strategy, wind generation capacities will stay at current levels in the electricity mix, which leaves an untapped opportunity for the country. Natural conditions in Hungary are very favorable for geothermal energy production and utilization, the country has vast expanses of deep aquifers that form an important low-enthalpy geothermal resource.
OVERVIEW:
Hungary is located in central Europe, the estimated population is 9 672 000. Hungary occupies an area of 93,028 km2. The nation’s capital is Budapest, the spoken language is Hungary.
ENERGY:
Domestic energy production accounts for 45% of the total primary energy supply and the country is becoming more import dependent. Natural gas and oil are the largest primary energy sources and nuclear power accounts for the greatest share of electricity generation. Oil is used largely in the transport sector and natural gas represents the largest share of energy consumption in the residential and commercial sectors. A little more than half of the country’s generation depends on the single nuclear power plant in Paks, with most of the remaining generation depending on coal, natural gas and about 11% of renewables. The most prominent renewable energy sources are solid biofuels with 8% of total generation. Variable renewable generation (wind and solar) are very limited, but solar photovoltaic (PV) capacity started to grow rapidly in recent years.
RELIEF:
Dominating the relief are the great lowland expanses that make up the core of Hungary. A mountain system, which forms the backbone of the country, is made up of Transdanubia (Dunántúl) and the Northern Mountains, separated by the Visegrád Gorge of the Danube. Volcanic peaks comprise the Mátra Mountains in the north, reaching an elevation of 1,014 metres at Mount Kékes, Hungary’s highest peak. Regions of hills reaching elevations of 250 to 300 metres lie on either side of the mountain backbone, while to the south and west of Lake Balaton is an upland region of more-subdued loess-covered topography.
CLIMATE:
Because of its situation within the Carpathian Basin, Hungary has a moderately dry continental climate. Average temperatures range from −4 to 0 °C in January and from 18 to 23 °C in July. In the lowlands, precipitation generally ranges from 500 to 600 mm. The central and eastern areas of the Great Alfold are the driest parts of the country, and the southwestern uplands are the wettest
ECONOMY:
Hungary’s strategic position in Europe and its relative lack of natural resources have dictated a traditional reliance on foreign trade.
The Hungarian economy enjoyed outstanding growth in recent years, GDP has risen on average by 4% each year since 2014 as the economy left behind the legacy of the financial crisis and macroeconomic policies remained supportive. Investment activity is at a record level.
The labour market performs strongly, in line with the good cyclical situation of the economy, wages have been growing rapidly. The benefits of growth have been unequally distributed. Poverty risks decreased markedly in past years, but material and social deprivation rates remain among the highest in the EU. The reduction of foreign currency debt has lowered Hungary’s exposure to volatility in international financial markets. Households and corporations had reduced their large net foreign currency debt stocks by 2018, also supported by government measures.
Unemployment rate: 3.45% (2019 est.) 3.71% (2018 est.)
TRANSPORT NETWORK:
Hungary played an active role in 21st-century regional efforts to modernize, improve, and expand inland waterway traffic on the Danube. Road construction and upgrading increased significantly in the early 21st century, with the building of expressways (motorways) radiating out from Budapest. International air travel passes through Budapest Liszt Ferenc International Airport. Railways have long been the centre of Hungary’s transportation system.