R&D spending at 1.35% of GDP in 2017

Analysis

pexels

Spending on research and development in Hungary came to HUF 517 billion last year, up 21% from 2016 at current prices, according to a summary of preliminary data compiled by the Central Statistical Office (KSH).

R&D spending was lifted, albeit from a low base, by grant money paid out at the end of 2016, the KSH noted, cited by national news agency MTI. R&D spending came to 1.35% of GDP in 2017.

Spending on R&D activities themselves, accounting for about 85% of overall R&D spending, was up 17%, while spending on investments in the R&D sector jumped almost 54%.

Businesses accounted for just under two-thirds of total R&D spending. Institutions of higher education and budget-funded research institutes accounted for equal shares of the rest.

Close to 61,000 people worked in R&D in Hungary last year, up 12% from 2016. About 70% were researchers and the rest were assistants.

Bamosz Investment Fund Value Reaches HUF 15.793 tln in May Figures

Bamosz Investment Fund Value Reaches HUF 15.793 tln in May

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

Hungary Wants EU to Smooth Electromobility Transition Transport

Hungary Wants EU to Smooth Electromobility Transition

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

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.