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More than 80% of German-owned companies give Hungary bad marks

About 83% of German-owned companies in Hungary gave bad marks to the Hungarian economy this year, chief secretary of the German Hungarian Chamber of Industry and Commerce Dirk Wolfer said, citing the results of a survey.

Just 16% of German-owned companies were satisfied with the state of the Hungarian economy. 89% of the companies reported a worsening outlook.

On a scale of 1-6 measuring the attractiveness to investors of countries in the region, Hungary scored 3.11 (1 is the most attractive and 6 the least), behind the Czech Republic (2.49), Slovakia (2.56) and Poland (2.89). Still, Hungary rose to seventh place among the 18 countries in the region from ninth a year earlier.

Still 80% of German investors in Hungary would make further investment in the country, but they are increasingly dissatisfied with the size of taxes, changing economic policy and the amount of bureaucracy, said the chamber's deputy-chairman Elek Straub, the former head of Magyar Telekom. (MTI – Econews)