VOL. 31. NUMBER 4 | FEBRUARY 24 – MARCH 9, 2023
HUF 2,100 | EUR 5 | USD 6 | GBP 4
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BUDAPESTBUSINESSJOURNAL.COM
SPECIAL REPORT INSIDE THIS ISSUE
Tax & Accountancy
BUSINESS
After 7 Years’ Service, Dutcham Elects new Chair Katinka Zinnemers has became the new chair of the Netherlands-Hungarian Chamber of Commerce, succeeding Lóránt Varga, who held the post for seven years. The pair reflect on the past and offer insights into plans for the coming years. 7 BUSINESS
Birthrate Rising, but Demographics Look bad for Hungary Aging is just one of the deteriorating demographic elements in Hungary. Combined with a slow recovery, it results in significant changes in Hungarian society and working habits. 9
Fewer Taxes and More Digitization
SOCIALITE
Müpa at the Heart of Culture in Budapest Landing on the Müpa Budapest website, David Holzer was struck by how many of the events were sold out, particularly as we’re talking pretty high culture. He interviews Janina Szomolányi, director of festival operations at what was once called the Palace of Arts. 21
NEWS
Hungary Slips into Technical Recession Hungary’s economic performance in Q4 of 2022 diminished by 0.4% compared to the previous three months, marking the second quarter of negative growth, the financial dictionary definition of a technical recession. For the whole year, GDP growth was 4.6% 3
SPECIAL REPORT
Leading actors from the tax and accountancy field such as András Szalai of Process Solutions (pictured) give us their take on the things to watch for in 2023, the trends likely to shape the future, and what they wish to see changed. 10 BUSINESS
Vodafone Takeover Boosts 2022 M&A Deal Value in Hungary to USD 3.2 bln
Against the global trend, the value of M&A deals in Hungary and in Central and Eastern Europe held firm in 2022, although increasing regulatory requirements are likely to dampen potential growth. 6