CEO Boardroom Meeting: Consultants Expect Stagnation not Recession

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From left: Robin Marshall, Tamás Lőcsei, and Rezső Rózsai.

Two leading Budapest consultants expect a slowdown or stagnation rather than a recession, the third Budapest Business Journal CEO Boardroom Meeting of the year heard yesterday.

Other takeaways on the economic prospects for Q3-Q4 2022 and Q1 2023 from Tamás Lőcsei, the country managing partner for PwC Hungary, and Rezső Rózsai, the national senior partner and CEO at KPMG Hungary, were that they were "cautiously optimistic" about Hungary and the EU reaching agreement over rule-of-law issues, freeing up much needed additional funding.

Just as COVID had spurred digitalization, they said, the energy crisis would concentrate minds on accelerating sustainability.

The Boardroom Meeting is an invitation-only event for leading expat CEOs and Budapest-based diplomats and took place at the Matild Palace Hotel. Spago Budapest by Wolfgang Puck provided a uniquely tailored gastronomic breakfast.

Questions were asked by Robin Marshall, editor-in-chief of the BBJ.

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