Frequent policy changes create unpredictable business environment in Hungary, says EC


Frequent policy changes are holding back an improvement in the environment for doing business in Hungary, the European Commission said in an overview of competitiveness in all 27 member states on Wednesday.

"Frequent changes in policy and in the legal and institutional framework have created an unpredictable economic environment for Hungarian enterprises," the Commission said in the overview. "While there have been positive developments in some areas, increased competitiveness requires a stable and predictable economic policy framework," it added.
The Commission acknowledged a slight increase in labour productivity in Hungary after the crisis, but said cost competitiveness had still deteriorated over the last decade. Credit conditions -- especially for SMEs -- are tight, the level of innovation is low, there is weak competition in many services, and the effectiveness of public administration is low, the Commission said, outlining challenges facing Hungary's industrial competitiveness.
The Commission said further efforts are also needed to reform the public administration and to reduce administrative burdens.



Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Neg... Ratings

Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Neg...

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Number of Job Adverts up Minimally HR

Number of Job Adverts up Minimally

No Lit-up Trams This Year City

No Lit-up Trams This Year


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.