German companies confident in economic growth next year

Analysis

German companies operating in Hungary also see that 2021 may once again be a year of economic growth in Hungary, emphasized Minister of Finance Mihály Varga at an online event organized by the German-Hungarian Chamber of Industry and Commerce (DUIHK), according to economic daily Világgazdaság.

In the next year, 60% of German companies operating in Hungary expect their business situation to improve, and half of the companies believe that their turnover will reach the pre-crisis level next year, the finance minister noted from the latest survey made by the DUIHK in early October.

Confidence in the Hungarian economy is indicated by the investments that German companies have started or are continuing despite the epidemic, Varga pointed out. 

The minister emphasized that about 3,000 German companies employ 220,000 people in Hungary; the value of German investments exceeds HUF 6.3 trillion, while a quarter of foreign trade is linked to Germany.

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