Economy of Hungary city competitiveness ranking by EIU, Budapest is ranked above Tel Aviv, Lisbon, Moscow and Johannesburg, among others. Hungary maintains its own currency, the Hungarian forint (HUF), although the economy fulfills the Maastricht criteria with the exception of public debt, but the ratio of public debt to GDP is significantly below the EU average at 75.3% in 2015. The Hungarian National Bank—founded in 1924, after the dissolution of Austro-Hungarian Empire—is currently focusing on price stability with an inflation target of 3%. In the age of feudalism the key economic factor was land. The new economic and social orders created private ownership
WCU – World Currency Unit base years are spliced to form a continuous series. The formula for the valuation of the World Currency Unit has been revised since 2008 so that the GDP weights are now revised every year. While still retaining the meaning of a unit of global real purchasing power, the WCU can now be interpreted as a GDP-weighted basket of currencies, each indexed against domestic inflation. The GDP-weighted basket of currencies has now formed the basis for a new formula for the effective exchange rate. The nominal value of this unit would rise with inflation in each economy. Moreover, the nominal value