Economy of Hungary account transactions, and subsequent to OECD membership in 1996, for almost all capital account transactions as well. Since 1995, Hungary has pegged the forint against a basket of currencies (in which the U.S. dollar is 30%), and the central rate against the basket is devalued at a preannounced rate, originally set at 0.8% per month, the Forint is now an entirely free-floating currency. The government privatization program ended on schedule in 1998: 80% of GDP is now produced by the private sector, and foreign owners control 70% of financial institutions, 66% of industry, 90% of telecommunications, and 50% of the
Kingdom of Hungary the Soviet occupation in 1946. The Kingdom of Hungary was a multiethnic state from its inception until the Treaty of Trianon and it covered what is today Hungary, Poland, Slovakia, Transylvania and other parts of what is now Romania, Carpathian Ruthenia (now part of Ukraine), Vojvodina (now part of Serbia), Burgenland (now part of Austria), and other smaller territories surrounding present-day Hungary's borders. From 1102 it also included Croatia, being in personal union with it, united under the King of Hungary. Today, the feast day of the first king Stephen I (20 August) is a national holiday in Hungary, commemorating