The 7th CEO Summit was opened by the presentation of Economical Research Institute (GKI) CEO László Akar entitled "The expected development of the Hungarian economy in 2003". GKI reports an expected national budget deficit of 4.6 percent. The prognosis for gross wage increase is approximately 7.8 percent, while inflation is expected to be 6.7 percent on average in 2004.
State Secretary and Head of National Development Bureau Etele Barát talked about the funds becoming availabe to Hungary with the EU accession. Hungary will have access to a total of EUR 10,000 billion in the course of the next seven years Hungarikum as the image of Hungary On the second day of the 7th Hungarian CEO Summit Herend Porcelain Manufacture CEO Sándor Polányi, Tokaj Wine-merchant House CEO László Kiss and Horwath Consulting Prseident of the Board of Directors Péter Kraft discussed the status of Hungarikum products. While both Kiss and Polányi agreed that the government should assist the marketing of Hungarikum products, Kiss would like to get financial support from the government while Polányi would seek diplomatic assistance in the promotion of these products. The downturn of Hungarian IT On the last day of the 7th Hungarian CEO Summit Hungarian Association of IT Companies (IVSZ) President János Kókai gave an overview of the Hungarian IT sector. In the past couple of years Hungary has tumbled down on the worldwide country lists showing the level of IT development. Kókai presses for the establishment of an association for the development of knowledge intensive economy. IVSZ launched its own „Elevator" program to coordinate tender writers, consultants and entrepreneurs.