Hungary’s economy is viewed more favourably both in terms of the economic situation and the business environment than in previous years, Dale Martin, head of the German- Hungarian Chamber of Industry and Commerce (DUIHK), has said in Budapest. Martin, referring to the chamber’s annual report based on a survey of 194 companies, 60% of which are German, said the chamber expected economic growth of 2.2% in Hungary this year. The number of companies that would reinvest in Hungary had risen from 73% to 75% from last year and 29% planned to add staff. The chamber’s confidence index had improved to 12 on a scale of -100 to +100, its best since 2011. Martin said Hungary is placed 9th and is ranked middle-of-the-field in the region. He said that although the assessment of the economy has improved there remain discrepancies in predictability, legal certainty and bureaucracy. Minister of National Economy Mihály Varga had noted that national output rose 2.7% in the fourth quarter of last year, and said the country was regaining its position in the region. Varga had said the government aimed to cut red tape and improve the regulatory and institutional environment, but planned no major changes in the tax system.