Alessio Chiesa ...
  • Raffaella Tenconi

WOOD Flash – Hungary macro: an update on the funding, growth changes and politics

An unusual, mixed policy message was delivered last week, when Finance Minister Varga raised the possibility of an increase in the tax burden for the banks, while Fidesz leader Kocsis, Minister for Economic Development Nagy and, very recently, PM Orban himself strongly rebuffed that possibility. In our view, this dynamic is unusual, as Minister Varga has a strong reputation for contributing to Hungary’s more stable fiscal position, so his comments need to be taken seriously, although the timing of the implementation of corrective measures may still be a year away, on our current best assessment.
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Alessio Chiesa

Raffaella Tenconi

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