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Restoring competitiveness is key
( 23 / March / 2006 )
“One of our main challenges is to put Hungary back on the map of international business. we have to define ourselves from the other Visegrad countries,” Koka said at a roundtable for foreign journalists, outlining FDI, exports, and EU funding as the three foci of the Hungarian economy. However, Koka denied claims that the government’s tax policy is hurting business, claiming that the overall tax burden on business under the 2005 budget will be 2 percent less than at present. This will cost the Hungarian budget HUF 100 billion or 0.5 percent of gross domestic product (GDP) in lost revenues, he added.