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The Effect of the Economic Crisis on Foreign Currency Loan Holders
5-12Views:113Since the appearance of the foreign currency denominated loan it has received a lot of good and bad criticism because - due to the crisis of 2008 - the exchange rate movements and the loan instalments increased. While the foreign currency credit was favourable at the time of borrowing, later it became a big problem for the borrowers. The crisis of 2008 was unexpected for the countries who have foreign currency loans, and who did not have crisis management mechanisms which could help to manage the crisis. Because of the crisis more and more people have got into trouble about their increasing loan instalments. Since 2008 the Hungarian government has been trying to help the Hungarian people with crisis management measures, like exchange rate pegging, home protection action plan, repayment at a fixed exchange rate, converting the loan into Hungarian forint, etc. Since February 2015 the compulsory conversion of loan into HUF has been in force and it has helped a lot of people having a foreign currency loan but there are still people who cannot take advantage of the settlement and need similar state help to decrease their credit burden. So unfortunately the problem of people having a foreign currency loan has not been solved completely but we are on the good track.
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THE EFFECT OF ECONOMIC POLICY DECISIONS AND INFLATION ON THE SITUATION OF THE LABOR MARKET - WITH PARTICULAR REGARD TO PUBLIC ADMINISTRATION
Views:295Nowadays, our country is characterized by active monetary and fiscal political decisions, however, the crisis caused by the coronavirus and the Russian-Ukrainian war and its inflationary consequences would lead the economic policy decisions in the opposite direction, which is unsustainable in the long term. In my study, I examined the relationship between fiscal and monetary policy and the labor impact of the economic crisis based on macroeconomic data, the Hungarian National Bank, and European Union forecasts. Significant progress was made in economic policy after 2010, thanks to which there was a fiscal balance and monetary policy ensured price stability, the labor market situation showed a gradually improving trend in recent years. The independent but constructive harmony between the two economic policy sub-areas after 2013 resulted in a permanent improvement of the macroeconomic processes of our country. However, the emerging crisis situation required a quick reaction, which fundamentally changed the short-term economic policy goals. Thanks to the consistency of monetary and fiscal policy, the Hungarian economy performed well even in the pandemic period compared to the European Union average. In the emergency situation caused by the coronavirus and the war, economic policy has found itself in a difficult situation, recovery from the crisis justifies economic recovery, while monetary tightening is needed to curb inflationary difficulties.
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BUDGET AND PUBLIC DEBT FINANCIAL STABILITY IS A PREREQUISITE FOR SUSTAINABLE GROWTH
1-21Views:117The central thought of this article is the relationship between the stability of public finances and the sustainable economic development of the country. The paper aims to find an answer to the question to what extent the outer and inner conditions of the social and economic functioning have contributed to, and hindered the domestic development in the quarter of the century after the change of the regime. The article proves that stability and growth are predisposed to strengthen each other. In absence of financial stability, we cannot talk about competitiveness as a prerequisite for the sustainability of growth, or in a wider sense, the realization of the public good. The latter can be observed basically in the fact that the interests of financial stability and growth are in equilibrium and the satisfaction of socio economic needs is realized in the frame defined by them.
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HELP! What should i do? -the lack of financial knowledge in hungarian households
116-121Views:190Financial planning, the propensity to save and self-caring habits effect not only the households' financial management, but they effect the economical, political, social and cultural situation of the whole country. The intellectual skills of hungarians are undeveloped, which stems from the lack of financial literacy of individuals. More and more people realize the need for economic and financial knowledge since the 2008 economic crisis, and that the development of financial culture is essential. In our research we examined, how the financial awareness and the willingness to save of individuals and households can be influenced.
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Financing SMEs – Prospects in Hungary
74-90Views:879After joining the EU, micro-, small- and medium-sized enterprises came to the focus of attention in Hungary for their grandiose role in both employment and producing added value. Due to their flexibility, creativity and adaptability SMEs find new market opportunities easier. Also, SMEs can find their way and seize appearing opportunities more quickly under rapidly changing, insecure and high-risk circumstances.When analysing the sector, besides the investigation of the external environment, it is also important to focus on internal factors. The success of businesses is not only influenced by their access to financial resources, but also by their internal organisational structure and the standard of their organisational culture. In the present phase of world economy, when
transports are delayed, credits are harder to obtain and companies downsize, leaders have to make careful and considerate management and operational decisions. Thus financial decisions have considerable short and long-term effects on the success of business operation.This research paper aims at a comprehensive study of the present situation of the Hungarian SME sector, some of its financing opportunities, as well as factors that hinder its development. Another purpose of the present writing is to lay the theoretical foundations for a primary questionnaire research exploring the financing characteristics of SMEs in Hungary. -
The Characteristics of Airport Security Devices in Connection with Terrorist Attacks
341-350Views:121Terror organizations threat those huge places and buildings which are used by a big mass of people. Public transportation hubs such as airports are most preferred places of terrorist attacks. If we prepare a small explosive device, we can cause a huge harm in the aircraft killing a lot of people. Security regulations have been improved to create new methods to prevent terrorist attacks. The main targets are at the airport the airplanes on the runway and already in the air, the arrival and departure halls, and the air traffic control and radar systems. To protect human life and airplanes in the airport security they check the passengers, their handluggage, their registered baggage and the cargo. I would like to show you how we can avoid the terrorist attacks and this present article gives an overview of the application of such equipment, their types and the working principles of the devices of airport security systems.