A major economic development goal is to increase the share of R&D expenditures within Hungary’s GDP. However, boosting state spending on innovation is not sufficient in itself, small- and medium-sized enterprises must also benefit from positive incentives. According to corporate surveys, 85 percent of enterprises in Hungary plan to either keep unchanged or increase the level of R&D expenditures in 2015. The overhaul of tendering processes, the high ratio of patents to investment and the taxation reform of research and development-related activities in 2014 as well as favourable lending conditions are all signalling that economic development objectives will be attainable through improving the innovation performance of enterprises.

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(Ministry for National Economy)