Study on the compliance by member states on the time needed to get licences and permits to take up and perform the specific activity of an enterprise as from beginning of 2014

The study checked compliance with the commitment of each country participating in the Competitiveness and Innovation Programme (CIP), i.e. the 28 Member States, Albania, the Former Yugoslav Republic of Macedonia, Iceland, Israel, Turkey, Liechtenstein, Montenegro, Norway, and Serbia. The results of the study informed the Commission’s report to the meeting of the EU’s Competitiveness Council in May 2014. Licensing refers to the complete “package” of compulsory permits, certificates, attestations, declarations on standards, authorizations, permits and other documents related to a license, the fulfilment of procedures and the completion of acts.

Focus of the study:

Trends in national policy
Licences required to perform enterprise activities for the five benchmark model companies
Licences required to operate across borders
Burden, complexity and cost of obtaining licences
Length of time taken to obtain licences and permits.

	2024 Fact	2025 Forecast	2026 Forecast
GDP	0.5%	1.3%	2.9%
Gross Fixed Capital Formation	-11.1%	-0.7%	4.0%
Industrial Production	-4.0%	0.5%	4.0%
Gross Salaries	13.2%	8.9%	8.5%
Unemployment Rate*	4.5%	4.4%	4.0%
Current+Capital Account**	2.6%	1.5%	0.5%
General Government**	-4.9%	-4.5%	-4.5 %
Consumer Price Index*	3.7%	5.0%	3.5%
MNB Base Rate***	6.5%	6.25%	6.0%
10-Year Yield***	6.55%	7.0%	6.2%

*annual average **in % of GDP ***at year-end

30.04.2025. GDP stagnates

According to the first estimate, in the first quarter of 2025, the unadjusted GDP volume was the same as one year earlier, while the seasonally and working day adjusted volume was down 0.4% year-on-year. Compared to the previous quarter, GDP contracted by 0.2%, which is so far the worst quarter-on-quarter growth outcome within the EU.
On the production side, only services contributed positively to economic growth, but this contribution appears to have been more modest than expected. On the expenditure side, private consumption may have lost some steam, while investments likely continued to contract sharply.
In 2025 as a whole, Kopint-Tárki expects the GDP to expand at a very modest rate of 1.5%. However, even this prediction may prove too optimistic given the ongoing global uncertainty.

04.03.2025. GDP: Private consumption keeps expanding, amid a diminishing drag effect from the fall in investments

The second estimate confirms that the unadjusted GDP was up 0.4% in the fourth quarter of 2024, while seasonally and calendar-adjusted GDP volume increased by 0.1%. Compared to the previous quarter, the GDP rose by 0.5%, a pace that surpassed the EU average. The annual average GDP growth was 0.5% in 2024.
There was no change of direction regarding the individual components in the fourth quarter, but the relative strength of their upward or downward effect shifted. On the expenditure side, the rate of the ongoing decline in fixed capital formation moderated by a couple of percentage points. Meanwhile, household consumption expenditure growth accelerated to 5.4% and actual household consumption kept expanding by 4.3%. The gap between the pace of consumption expenditure growth and the growth in real wage disbursements was less pronounced in the fourth quarter than before, due to the slowdown in the latter. Overall final domestic use increased in Q4 at a rate above 1%. Despite this growth, import continued to fall but at a slower pace than export, which is still facing severe demand constraints. As a result, the growth contribution from net exports remained negative.
On the production side, the return to growth was primarily driven by an acceleration in services growth, the only component that continued to contribute to economic growth, but an easing of the industrial recession also played a role.
Regarding the prospects for this year, we expect the GDP to grow by 2% but the downward risks are far from negligible.

30.01.2025. GDP: growth is back in Q4

According to the first estimate, unadjusted GDP was up 0.4% in the fourth quarter of 2024, while the seasonally and working-day adjusted volume increased by 0.2% on an annual basis. Compared with the previous quarter, GDP rose by 0.5%, at a rate well above the EU average. In 2024, the average annual GDP growth reached 0.5%.
On the production side, only services contributed positively to economic growth in the fourth quarter, according to the CSO. The growth rate of services likely accelerated somewhat at the end of the year. On the expenditure side, private consumption may have gained additional momentum, despite contradictory labor market trends.
In 2025, the Kopint-Tárki expects GDP to expand at a modest rate of 2.4%.

More than five decades in economic research. Balanced, independent and objective analysis and forecasts

Study on the compliance by member states on the time needed to get licences and permits to take up and perform the specific activity of an enterprise as from beginning of 2014

1112 Budapest, Budaörsi út 45.

telefonszám: +36 1 309 2695,
faxszám: +36 1 309 2647

e-mail: info@kopint-tarki.hu

1112 Budapest, Budaörsi út 45.

telefonszám: +36 1 309 2695,faxszám: +36 1 309 2647

e-mail: info@kopint-tarki.hu

telefonszám: +36 1 309 2695,
faxszám: +36 1 309 2647