Hungarian National Bank: Hungary’s competitiveness needs to be improved

Although the macroeconomic bases of improving competitiveness exist, due to the relatively low productivity of companies Hungary is still in competitive disadvantage compared to other countries in the region, says the Hungarian National Bank’s Competitiveness Report 2017. The average entrepreneurship is higher, but the added value of SME sector and the investment in R&D are considerably lower than among the larger, multinational companies. The deficit of qualified labour, the lack of marketable education, and the bureaucracy cause further difficulties for the SME sector.
Continued in the enclosed report.

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