Hungary's economy is viewed more favourably both in terms of the economic situation and the business environment than in previous years, Dale Martin, head of the German-Hungarian Chamber of Industry and Commerce (DUIHK), told a press conference in Budapest on Wednesday.
Minister of National Economy Mihály Varga noted that Hungary's output had increased by 2.7 percent in the fourth quarter of last year, adding that the country was regaining its earlier position in the region. He stated that the Government was aiming at reducing red tape and improving regulatory and institutional environment. Mr Varga noted that the cabinet planned no major changes in the tax system.
Mr Martin, referring to the chamber's annual report based on a survey of 194 companies, 60 percent of which are German businesses, said the chamber expected an economic growth of 2.2 percent in Hungary this year.
The number of companies who would reinvest in Hungary rose from 73 percent to 75 percent from last year and 29 percent said it planned new hires.
The chamber's confidence index improved to 12 on a scale of -100 to 100, which is the highest score since 2011. Hungary is placed 9th and is ranked middle-of-the-field in the region.
(Ministry of National Economy)
