DUIHK: Positive Post-Election Shift in Business Confidence

Gauges of sentiment by the German-Hungarian Chamber of Industry and Commerce (DUIHK) show an improvement in business confidence after the April 12 election.

Presenting the results of the surveys on Thursday, communications director Dirk Wolfer said the share of respondents who expected to see an improvement in the local economy rose from 7% before the election to 42% after the Tisza Party's victory, while the share who augured a downturn fell from 48% to 17%.

The share of businesses who would reinvest in Hungary rose from 77% to 87%.

Hungary's accession to the eurozone was supported by three-fourths of respondents.

The chamber surveyed 264 companies between March 2 and April 2, and conducted a flash survey of 139 companies after the election, between April 16 and 23.

Chamber head Róbert Keszte said companies expect the new government to take steps to address the labor shortage, strengthen the supply chain by supporting SMEs, crack down on corruption and adopt the euro.