The result of the June 23th United Kingdom referendum shocked the world. The sudden drop in the exchange rate of the British Pound on the following days supports this very clearly (see Figure 1, 23 to 30 June 2016). In the following brief analysis we describe potential effects of Brexit that may have an impact on Hungary in the medium term. In our work we summarize the conclusions of the Hungarian and international literature related to the UK’s withdrawal from the European Union. The most obvious result of the referendum so far is the financial and political uncertainty that is dominating Europe. Another effect may be a significant decline in the Hungarian Gross Domestic Product in 2016 and the next few years.