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Hungary R&D spending up 27% in 2018

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).

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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.