Majority of Companies Experienced Financial Difficulties in July

Analysis

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Some 44% of company managers did not find it challenging to meet their company's financial obligations. In comparison, 56% experienced various difficulties and are less optimistic about the next half-year, the Economic and Entrepreneurial Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry announced, according to hrportal.hu. 

In July 2022, GVI asked 350 domestic businesses employing at least 20 people about their financial situation, including their ability to fulfill their financial obligations, their financial difficulties, and the level of their reserves. 

According to the survey, the most significant economic problem for most businesses in the months leading up to July 2022 was the exchange rate loss, the payment of raw materials, and the payment of energy carriers. 

The GVI research showed that company managers judged the level of financial reserves for the first half of 2022 to be more favorable in retrospect than what is likely for the next half of the year.

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