He noted that, although firms may have available capital, the lack of confidence in the future is discouraging spending.

Hungarian industry is in a slump, and, excluding the 500 innovation-focused companies, it would be in a recession.

He cited a survey, Global Entrepreneurship Monitor, which showed a weak entrepreneurial sentiment in Hungary, below the level in Ukraine and ahead of Iran.

Balogh expects the situation to improve after the election, independent of the outcome, which could put an end to the prolonged period of uncertainty.
 

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