BMI View: Economic weakness continues to be a drag on the development of Hungary’s IT market, although growth has remained positive, due to strong technology-driven trends. The IT market was hit by contractions in real GDP and private final consumption in 2012 and 2013, undermining confidence levels and resulting in deferred spending by households and enterprises. There are many positives for the development of the market that have kept it growing despite economic weakness. The dispersal of EU funds for projects and Hungarian IT firms, the modernisation by Hungarian enterprises as they face the pressures of international competition and demand …
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