Seven years ago, the top executives of Fejér County’s leading industrial companies gathered for the first time at the invitation of VIDEOTON, and they have been meeting regularly ever since. After a comprehensive macroeconomic analysis, they discussed the key challenges of the upcoming period in front of an audience of 130 participants.

In keeping with tradition, the Forum was opened by Dr. András Cser-Palkovics, Mayor of Székesfehérvár, who emphasized in his welcome speech that 'what happens in Székesfehérvár defines the entire Hungarian economy.' Although Székesfehérvár’s industrial sector has significant export exposure, the city’s major economic strength lies in its diversity.

Diversity also characterizes VIDEOTON’s operations, which is why the group’s performance closely reflects overall trends in the Hungarian manufacturing sector, said Ottó Sinkó (co-CEO of VIDEOTON) in his keynote speech opening the Forum. He emphasized that although the company’s revenue remains stable, he expects challenges to intensify in the coming years. At the same time, he noted that the uncertainty created by Trump’s policies might even end up benefiting Europe.

Péter Lakatos (co-CEO, VIDEOTON) also emphasized that, based on a thorough evaluation of the current situation, there is no reason for optimism, and we must accept that we cannot expect help from others. At the same time, he believes that growth opportunities lie in strengthening cooperation and integration across various levels of the community, which could benefit not only companies but also the city, the country, and Europe as a whole.

Hungary is likely to see moderate growth over the next two years. Still, it remains uncertain how long the patience of international credit rating agencies will last, said Dávid Németh, Lead Analyst at K&H, in his macroeconomic summary. He addressed the increased uncertainty resulting from the shift in U.S. (Trump-era) policies and the potential impact of American trade tariffs. In his view, this alone is unlikely to trigger a recession, but it could slow down economic growth.

In the panel discussion that followed, the invited company executives reflected on the key points of the macroeconomic analysis in relation to their own market segments. The roundtable discussion first focused on the current economic situation, then shifted to topics such as the energy crisis, improving efficiency, and labor market conditions. Participants agreed that growth in the manufacturing sector - especially in the automotive industry - is likely to fall below official forecasts. Regarding employment prospects, while some attendees reported ongoing staff shortages, declining expectations for hiring were more common. They also emphasized that in recent years, additional challenges have emerged for domestic industry, including the volatility of energy prices.

The speakers were not optimistic about the medium-term outlook. In their view, the bottom of the downturn has not yet been reached, and a more significant economic upswing is not expected until late 2026 or early 2027.