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Mihaly KupaHungarian statesman and political figure
Date of Birth: 03.04.1941
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Content:
- Early Life and Political Career
- Career in Statistics and Finance
- Ministry of Finance and Tax Reform
- Minister of Finance
- Independent Career and Business Ventures
- Return to Parliament and Founding of the Center Party
- Retirement and Legacy
Early Life and Political Career
Imprisonment and EducationIn 1958, at the age of 17, Mihaly Kupa was arrested on charges of conspiracy and spent 10 months in prison. Despite these challenges, he went on to earn a degree in economics from the Karl Marx University of Economic Sciences in Budapest in 1969.
Career in Statistics and Finance
Kupa spent several years working in statistical institutions, eventually becoming head of a group at the Central Statistical Office of Hungary in 1971. He received his doctorate in 1975 and worked as a researcher at the Higher Education Research Center before joining the Research Institute for Financial Problems in 1984 as Deputy Director.
Ministry of Finance and Tax Reform
Kupa served as Head of the Policy Department at the Ministry of Finance from 1985 to 1990. In 1987, he became head of the Tax Administration and led the country's tax reform effort. In 1989, he chaired the Secretariat for Budgetary Reform.
Minister of Finance
In 1990, Kupa was appointed Minister of Finance in the government of Prime Minister Jozsef Antall. He also served as a deputy chairman of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) and the International Monetary Fund, and as Chairman of the World Bank's General Assembly.
Independent Career and Business Ventures
After stepping down from his ministerial position in 1993, Kupa became an independent member of the National Assembly of Hungary. In 1996, he was appointed chairman of the Hungarian Market Association. He also held various positions at K&H Bank Rt, including member of the board, vice president, and chairman of the Supervisory Board.
Return to Parliament and Founding of the Center Party
In 1998, Kupa was re-elected to the National Assembly as the only independent representative. He founded the Center Party, which failed to reach the 5% electoral threshold in 2001.
Retirement and Legacy
Kupa retired from politics in 2007. In 1991, he acquired one of Hungary's largest pharmaceutical companies, Sanofi-Aventis. He received the "Twenty Years of the Republic" award in 2009. Kupa passed away in early September 2024 at the age of 83. He was twice married and had four children.
