/lit/ - Literature

>>14067793
>Hungary

https://en.wikipedia.org/wiki/J%C3%A1nos_K%C3%A1d%C3%A1r#The_K%C3%A1d%C3%A1r_era

During the Kádár era, living standards were artificially inflated by international loans. Hungary's debt to GDP ratio is the 10th highest in Europe and the 33rd highest worldwide. Unlike countries like Japan or the US, the loans were spent on welfare, rather than improving the economy. This, backed with democratic reforms (democratic compared to the Rákosi era: we were still a one-party state on soviet leash) made people contempt with the socialist system.
But now we have shitton of debt with no developed home industry to show for it.