Andras Mihalovits

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Andras Mihalovits is associated, including model and luck. Most recently, Andras Mihalovits has been quoted saying: “It seems obvious that the retail chains owned by Hungarians won't be affected, or not affected adversely by these government moves. In fact the situation creates a huge market opportunity for them. It is also conceivable, that some of the retail chains will decide not to operate in the Hungarian market, simply because it is not worth it and they will exit the country.” in the article Big supermarkets face headaches in Hungary as parliament debates new law. An other article where Andras Mihalovits has been quoted is Cost of living in Hungary, tight government, tight belts.

Andras Mihalovits quotes

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The Hungarian model could work but you'd need a lot of luck, I don't think it could be copied in other countries with similar problems because the legal and the economic situation is very different in those countries. And I have to add that this was an excessively risky step which finally turned out to be a lucky one.

It seems obvious that the retail chains owned by Hungarians won't be affected, or not affected adversely by these government moves. In fact the situation creates a huge market opportunity for them. It is also conceivable, that some of the retail chains will decide not to operate in the Hungarian market, simply because it is not worth it and they will exit the country.

Well, Hungarians were very proud a couple of years ago that they were the regional leader – for attracting investments, for low unemployment and for economic growth. This, unfortunately, now lies in the past, and Hungary is increasingly falling behind. Studying the investment figures, we see that this could even be chronic.

First and foremost, they wanted to reduce public debt. Then came economic growth, and reducing unemployment, which is high in Hungary.

Unfortunately, very few, and Hungarians are unhappy with this. Many young people – more than 300,000 have gone abroad to find a job, and a huge number of the unemployed are registered as 'communal workers' – working for municipalities for a tiny salary. Statistics look good because of those two things, but keeping the promise of one million jobs still far in the future.

The rate of investment in Hungary is very low. Small businesses are not investing because they are restrained by taxes and paying off loans. Big multinational companies aren't investing; they complain about legal uncertainty – notably that, in the last four years, overnight the government slapped extra taxes on entire sectors. They didn't like that, and in the last couple of years the level of investment has fallen to near zero.

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