IMPLEMENTATION OF THE "OPENING TO THE EAST" ECONOMIC STRATEGY BY HUNGARY

Purpose: The aim of the article is to identify the motives and the degree of implementation of the "opening to the East" economic strategy by Hungary and its impact on the dynamics of the country's economy. Design/metodology approach: The research methods and techniques included: elementary analysis, desk research, observational method, cause and-effect analysis, experimental method and selected qualitative and quantitative analysis methods. Findings: Studying the effects of Hungary's economic strategy of "opening to the East" allows us to conclude that, although only part of its potential is used, it contributes to improving the competitive position of the country's economy. Research limitations/implications: Future research should focus on confirming the obtained results taking into account other economic relationships, other macroeconomic indicators. A valuable direction of future research may be conducting bilateral comparative analyses between the growth dynamics of the Hungarian economy and the economies of several selected countries with comparable dynamics. Practical implications: The obtained results are important for international political economy and geoeconomics. The article covers the main economic reasons for Hungary to tighten its economic cooperation with the East (especially with Russia) and to reduce the economic dependence on the West. Social implications: The results of the conducted research will influence the perception of Hungary as a country with great ambitions to play a much greater role in international politics than before, which results from historical and psychological reasons, and the main instrument for realizing these ambitions is the economy. Originality/value: The article contains the results of original theoretical and empirical research that explains the vision of Hungary's economic development, which is different from that of most other EU Member States, and the results of its implementation.