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Pessimism Grows Among German Companies in Hungary

• 28 Apr 2023 9:40 AM
• Hungary Around the Clock

The proportion of German companies in Hungary that would again invest in Hungary has fallen to 79% from 88% a year earlier, according to a survey conducted by the German-Hungarian Chamber of Industry and Commerce.

Companies have not been so pessimistic about their prospects for ten years, said chamber spokesman Dirk Wölfer.

Economic policy measures imposed since the beginning of 2022, such as the windfall profit taxes and fixed prices, contributed to the decrease in satisfaction, he said.

At the same time, he said, there is a desire for growth in terms of investment plans and employment, based on which it seems that the slowdown is considered temporary.

Despite the easing prices, energy costs are the factor most frequently mentioned by companies as a risk to their business, followed by the shortage of skilled labour and the forint exchange rate.

The results are based on a survey of 249 companies conducted between February 13 and March 17.

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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