MNB: the convergence of the SME sector would increase the GDP by 3 to 5 percentage points

If the productivity of the Hungarian small and medium sized (SME) sector would reach the average of the region and would approach to large corporations, the Hungarian gross domestic product (GDP) would increase by 3 to 5 percent – Palotai Dániel, Managing Director of the Hungarian National Bank (MNB) described the data of the Central Bank at a conference on Monday in Budapest.

The Managing Director at “The place of the Hungarian foreign economy in economic policy”, added: the reduction of the corporate income tax and reduction of the tax burden on income help to achieve these goals. He believes it would be worthwhile to continue in this direction.