Companies will run out of financial reserves by the summer

“The economic effects of the virus epidemic in Hungary cannot yet be predicted, but it is certain that Hungarian micro, small and medium-sized enterprises are most exposed to the negative consequences, so we asked our customers how they were affected by the current situation,” said Roland Kökény. , Head of Marketing, K&H SME Segment.

Half of Hungarian SMEs were moderately affected, but 44 percent were heavily affected by the coronavirus, according to a survey conducted among K&H’s customers in mid-April. There are significant differences in the level of injury between sectors. One of the biggest losers in the viral epidemic is clearly tourism: 85 per cent of the sector reported that it suffered irreversible or severe losses as a result of the sudden shutdown. In addition, other trade (53 per cent) and food trade (48 per cent) were most affected, while agriculture (28 per cent) was the most affected.