Palkovics: Multinationals generate over half of Hungary's value-added

Multinationals making up 3 percent of the Hungarian economy generate more than half of value-added and employ 25 percent of all employees, the minister in charge of innovation and technology said on Friday. The remaining 97 percent of the economy is mainly accounted for by small and medium-sized firms employing 75 percent of all employees but producing less than half of the country's value-added, Laszlo Palkovics told commercial channel TV2, adding that it was imperative that Hungary's SMEs raise their productivity and product value.