German companies see the economic outlook of their own companies and that of Hungary more favourably than last year, Dirk Wölfer of the German-Hungarian Chamber of Industry and Commerce (DUIHK) told Magyar Hírlap in an interview.
"From the feedback of our member companies and that of other foreign investors, we see this year's economic outlook very favourably. This view of a stronger economy is reflected in the improving projections for investment and employment", he said.
The DUIHK expects economic growth of more than 3%, which is higher than the official target of the government (2.5%), and that of the Hungarian National Bank (2.8%). Within sectors of the economy with the highest expected growth in new investments, Wölfer named the car industry and companies that rely on exports.
German companies are committed to Hungary, as more than 80% of them would invest again in the country, a 6 percentage point increase from 2015. More than a third of German companies (38%) would increase their capital expenditures this year, and only 15% said the opposite. Some 43% of the companies asked in the survey would increase their payroll, Corruption, the lack of transparency in public procurements and the lack of skilled workers remain a problem, he added.
