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
Ring main unit type of switchgear is used for medium-voltage power distribution, from 7200 volts to about 36000 volts. The ring main unit was introduced in the United Kingdom and is now widely used in other countries. In North American distribution practice, often the equivalent of a ring main unit is built into a pad-mounted transformer which integrates switches and transformer into a single cabinet. Ring main units can be characterized by their type of insulation, air, oil or gas. The switch used to isolate the transformer can be a fusible switch, or may be a circuit breaker using vacuum or gas-insulated interrupters.