Business spending on R&D high in Hungary

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The share of the business sector in total expenditures on research and development (R&D) is the second highest  in Hungary among EU countries, according to figures released on Friday by Eurostat, the EUʼs statistics office.

The main sector in which R&D activities were carried out in 2016 was the business enterprise sector in all member states, far outstripping the government sector, the higher education sector and the private non-profit sector, national news agency MTI reported.

The highest share of R&D expenditure by the business sector was in Slovenia at 76%, followed by 74% in Hungary and 73% in Bulgaria.

Last year total R&D expenditures in Hungary reached EUR 1.372 billion, some 1.21% of GDP. In 2016, EU members altogether spent EUR 302 billion on R&D, equaling 2.03% of total GDP.

Recently leaders of 28 large multinational companies in Europe published a statement showing their full support to scale up ambition for the next flagship EU research and innovation funding program (FP9).

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