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The International Monetary Fund (IMF) projects Hungary’s economy will contract by 6.1% this year, but rebounding and expanding by 3.9% in 2021, in its latest World Economic Outlook.
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The extra local tax that is planned to be levied by the city of Budapest on companies with more than Ft 5 billion in annual revenues may result in an exodus, says Elek Nagy the head of Budapest Chamber of Commerce.
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Hungarian manufacturer of wellness equipment Wellis is to open a new production centre in Ózd in order to expand its production capacity for hydro massage pools.
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Budapest is mulling the introduction of a 0.5% “recovery” tax on larger businesses until Budapest emerges from the economic crisis caused by the coronavirus epidemic.
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Hungary aims to be in the top third of major European innovators by 2030 through government R and D support schemes, László Palkovics, the minister of innovation and technology, said in Zalaegerszeg, in south-western Hungary.
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Foreign Minister Péter Szijjártó has inaugurated pharmaceutical company Gedeon Richter’s 3,500sqm office complex in Debrecen, eastern Hungary.
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