Hungary R&D spending up 27% in 2018
pexels
Spending on research and development in Hungary came to more than HUF 654 billion, or 1.53% of GDP in 2018, up 27% in current prices from a year earlier, state news wire MTI reported Friday, citing a summary of data by the Central Statistical Office (KSH).
Image: Pexels
State financing jumped 28.3% to HUF 211 billion and accounted for 32.3% of total R&D funding, compared to 31.8% a year earlier.
Businesses again played a big role in funding research and development. The business sector spent more than HUF 342 bln on R&D in 2018, up 25.7% from a year earlier, accounting for 52.3% of total R&D funding compared to 52.7% a year earlier.
Foreign resources came close to HUF 97 bln last year, up 25.9% from 2017. The share of foreign resources was unchanged at 14.8%. Around 79% of foreign funds came from companies.
In 2018, some HUF 113 bln was spent on investments related to R&D projects and HUF 536 bln went towards covering R&D costs, including HUF 303 bln spent on personnel costs, HUF 60.6 bln on materials, and HUF 112 bln on purchasing services.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
