German companies confident in economic growth next year

Analysis

Photo by Aritra Deb / Shutterstock.com

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.

ADVERTISEMENT

Takarékbank lowers 2021 GDP growth forecast to 6.9% Analysis

Takarékbank lowers 2021 GDP growth forecast to 6.9%

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.