“Budapest is creating an unpredictable business climate for foreign investors,” Sándor Richter of Vienna economic institute WIIW told the newspaper. The decision to levy special taxes on new sectors angers foreign investors, the article said.

Financial institutions were upset by the bank tax imposed earlier this year, Richter noted, and some banks have indicated plans to scale back activity in the market as a result.

Erste Bank CEO Andreas Treichl has said “We have enough power to show we are not going to tolerate everything”.

Source: Hungary Around the Clock

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