FinObservatory

Crisis atlas / HUN

Hungary

72 distinct crisis events in 8 episodes, 1873–2021, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

19
Banking crises
20
Currency crises
33
Sovereign debt crises
72
Crisis events
1873–2021
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2021
    Bankingesrb1 source
  2. 2020
    Bankingesrb1 source
  3. 2016
    Bankingrr1 source
  4. 2015
    Currencyrr1 source
    Bankingrr1 source
  5. 2014
    Currencyrr1 source
    Bankingrr1 source
  6. 2013
    Bankingrr1 source
  7. 2012
    Bankinglaeven_valencia, rr2 sources
  8. 2011
    Currencyrr1 source
    Bankinglaeven_valencia, rr2 sources
  9. 2010
    Bankingesrb, laeven_valencia, rr3 sources
  10. 2009
    Bankingesrb, laeven_valencia, rr3 sources
  11. 2008
    Bankingesrb, gmd, laeven_valencia, rr4 sources
  12. 1999
    Currencyrr1 source
  13. 1997
    Currencyrr1 source
  14. 1996
    Currencyrr1 source
  15. 1995
    Currencyrr1 source
    Bankingesrb, gmd, laeven_valencia, rr4 sources
  16. 1994
    Bankingesrb, laeven_valencia, rr3 sources
  17. 1993
    Currencyrr1 source
    Bankingesrb, laeven_valencia, rr3 sources
  18. 1992
    Bankingesrb, laeven_valencia, rr3 sources
  19. 1991
    Currencyrr1 source
    Bankingesrb, gmd, laeven_valencia, rr4 sources
  20. 1989
    Currencyrr1 source
  21. 1982
    Currencyrr1 source
  22. 1968
    Currencygmd, rr2 sources
  23. 1967
    Sovereign debtrr1 source
  24. 1966
    Sovereign debtrr1 source
  25. 1965
    Sovereign debtrr1 source
  26. 1964
    Sovereign debtrr1 source
  27. 1963
    Sovereign debtrr1 source
  28. 1962
    Sovereign debtrr1 source
  29. 1961
    Sovereign debtrr1 source
  30. 1960
    Sovereign debtrr1 source
  31. 1959
    Sovereign debtrr1 source
  32. 1958
    Sovereign debtrr1 source
  33. 1957
    Sovereign debtrr1 source
    Currencygmd, rr2 sources
  34. 1956
    Sovereign debtrr1 source
  35. 1955
    Sovereign debtrr1 source
  36. 1954
    Sovereign debtrr1 source
  37. 1953
    Sovereign debtrr1 source
  38. 1952
    Sovereign debtrr1 source
  39. 1951
    Sovereign debtrr1 source
  40. 1950
    Sovereign debtrr1 source
  41. 1949
    Sovereign debtrr1 source
  42. 1948
    Sovereign debtrr1 source
  43. 1947
    Sovereign debtrr1 source
  44. 1946
    Sovereign debtrr1 source
    Currencyrr1 source
  45. 1945
    Sovereign debtgmd, rr2 sources
    Currencygmd, rr2 sources
  46. 1944
    Sovereign debtrr1 source
  47. 1943
    Sovereign debtrr1 source
  48. 1942
    Sovereign debtrr1 source
  49. 1941
    Sovereign debtgmd, rr2 sources
  50. 1937
    Sovereign debtrr1 source
  51. 1936
    Sovereign debtrr1 source
  52. 1935
    Sovereign debtrr1 source
  53. 1934
    Sovereign debtrr1 source
  54. 1933
    Sovereign debtrr1 source
    Currencyrr1 source
  55. 1932
    Sovereign debtgmd, rr2 sources
    Currencyrr1 source
    Bankingrr1 source
  56. 1931
    Bankinggmd, rr2 sources
  57. 1929
    Currencygmd, rr2 sources
  58. 1925
    Currencyrr1 source
  59. 1924
    Currencygmd, rr2 sources
  60. 1873
    Bankinggmd1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1873

Banking
Inflation (% y/y)
No data for this window
Policy rate (%)
0246186818731878
Govt debt (% of GDP)
No data for this window

1924–1925

Currency
Inflation (% y/y)
-2000200400191919241930
Policy rate (%)
No data for this window
Govt debt (% of GDP)
0102030191919241930

1929–1937

CurrencyBankingSovereign debt
Inflation (% y/y)
-2000200400192419291942
Policy rate (%)
No data for this window
Govt debt (% of GDP)
0204060192419291942

1941–1968

Sovereign debtCurrency
Inflation (% y/y)
-10k010k20k30k193619411973
Policy rate (%)
No data for this window
Govt debt (% of GDP)
0204060193619411973

1982

Currency
Inflation (% y/y)
0510197719821987
Policy rate (%)
051015197719821987
Govt debt (% of GDP)
050100197719821987

1989–1999

CurrencyBankingFiscal cost 10.0% of GDP, output loss 0.0% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
02040198419892004
Policy rate (%)
0102030198419892004
Govt debt (% of GDP)
050100198419892004

2008–2016

BankingCurrencyFiscal cost 2.9% of GDP, output loss 37.3% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
-50510200320082021
Policy rate (%)
051015200320082021
Govt debt (% of GDP)
050100200320082021

2020–2021

Banking
Inflation (% y/y)
-1001020201520202025
Policy rate (%)
051015201520202025
Govt debt (% of GDP)
050100201520202025

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology