Lajos Bokros Hungarian politician Date of Birth: 26.06.1954 Country: Hungary

1. Early Life and Education
2. Political Career
3. Minister of Finance (1995-1996)
4. Later Political Roles

Early Life and Education

Laszlo Bokros was born in Hungary and completed his studies at the Karl Marx University of Economic Sciences (currently known as Corvinus University). He successfully defended his dissertation and earned his doctorate degree.

Political Career

Bokros embarked on his political journey by joining the Hungarian Democratic Forum party. In the early 1990s, he took on the role of Director of the State Property Agency (1990-1991).

Minister of Finance (1995-1996)

In 1995, Bokros was appointed Minister of Finance for Hungary. He implemented a stringent austerity plan known as the "Bokros Plan," which featured the devaluation of the forint, cuts to social welfare programs, and the introduction of an import tax.

Despite stabilizing macroeconomic indicators (budget deficit declined from 9.6% to 3.8%, external trade balance improved from 9.4% to 3.8%), Bokros faced opposition from the Socialist-led government under Prime Minister Gyula Horn regarding the reduction of social spending. He ultimately resigned in February 1996.

Later Political Roles

Bokros secured a seat as the sole representative of his party in the 2009 European Parliament elections and became one of 22 Hungarian MEPs. He served on the Budget and Finance committees and the delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro, and Kosovo.

In 2010, Bokros was nominated by his party as their candidate for Prime Minister in the parliamentary elections.