K&H: Sentiment among Hungary SMEs worsens

Banking

K&H Bank’s latest gauge of SME sentiment worsened in the third quarter from the previous quarter as businesses took a darker view of taxes, economic policy and access to credit, Hungary’s news agency MTI yesterday.

The index, based on a survey of managers at 500 micro businesses and SMEs, fell 7 points to -18 in Q3. The gauge of corporate tax burdens dropped 11 points to -47. Only one-tenth of companies expect the tax burden to fall, while almost half expect it to grow.

The percentage of SMEs who said the government had taken decisions in the past three months that would hurt their competitiveness rose by 8 percentage points to 39%, according to the report.

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