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The establishment of the International Investment Bank’s headquarters in Budapest was the main topic of discussions between Prime Minister Viktor Orbán and Nikolay Kosov, the IIB’s President, at the prime minister’s offices in Budapest.
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With the 7.5 per cent tax that multinational companies have to pay, Hungary is now ahead of other tax havens like Ireland, Cyprus or Malta.
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The Hungarian headquarters of the International Investment Bank will open in the second half of 2019, and according to plans the entire headquarters will move to Hungary within two to three years, Finance Minister Mihály Varga said after his talks with Nikolay Kosov, Chairman of the financial institution’s Board.
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The forint traded at less than 320 per euro on Thursday, reaching a five-month peak after a two-day rally.
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The 26% increase in average wages in the past two years has demonstrated Hungary’s improving economic performance, a finance ministry official said.
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Takarékbank forecasts Hungary’s economy growing by 4.2% this year, fuelled by rising consumption linked to strong wage growth.
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