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
Hungary between the World Wars domestic gold and foreign-currency reserves to meet about half of the 1921-22 budget and almost 80 percent of the 1922-23 budget. To improve his country's economic circumstances, Bethlen undertook development of industry. He imposed tariffs on finished goods and earmarked the revenues to subsidize new industries. Bethlen squeezed the agricultural sector to increase cereal exports, which generated foreign currency to pay for imports critical to the industrial sector. Further compounding Hungary's problems was the fact that of its four neighbors, three (Czechoslovakia, Romania, and Yugoslavia) were enemies and kept troops stationed on their borders at all times, even though Hungary