The Russo-Ukrainian war is further worsening the waning corporate innovation spirit, according to the report.
"This performance is weaker than average, essentially reflecting Hungary's not-so-prestigious place in the European innovation ranking," said Balázs Németh, head of innovation at K&H.
"However, innovation is the key to competitiveness because, thanks to it, a company satisfies the needs of customers better than before and increases its efficiency," he added.
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