The fall in GDP in Hungary is staggering. To an extent the fall for other countries is dramatic, but the thing to consider is how many years it will take to rise back to the overall economic level that existed in 2007. If we have a significant drop in GDP this year and in 2010 (even if it stays flat), the ability for Hungarians to reach parity with Western Europeans is even that much further out. That is unless they fall further behind Hungary - which just maybe shouldn't be discounted.
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About Me
- Michael LaBelle
- I have broad interests in all things related to energy. I've worked on a range of projects dealing with energy security of supply to the development of a post carbon economy. Much of my work involves understanding the interplay of government regulations and investments. I also blog at www.energyscee.com and run the research and consulting company Limax Energy.