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Spending on R+D grows compared to GDP

Hungary's National Innovation Office (NIH) on Tuesday published a report on corporate R+D that shows expenditures grew compared to GDP, but funding is still scarce.

According to NIH figures, total expenditures on R+D were less than 1% of GDP between 2001-2009, then rose to 1.17% in 2009 and slipped to 1.16% in 2010. The EU average is 2%.

The expenditures of businesses on R+D reached 61% of the total in 2010, also under the EU average of two-thirds. Hungary ranks 19th among EU members in regard to spending on R+D. According to NIH, problems in the field arise from the lack of high-tech enterprises, the low number of globally competitive services and the generally low support for R+D.

NIH Chairman György Mészáros said the office will continue helping businesses with innovative ideas and will help to manage them, so companies wouldn't have to move them abroad.