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Coronavirus: Gov’t Broadens Eligibility for Investment Subsidies

MTI-Hungary Today 2020.05.23.

The government is expanding the range of businesses eligible for 40 billion forints (EUR 114m) in investment subsidies this year, Finance Minister Mihály Varga told MTI on Saturday.

A decree published in the official gazette Magyar Közlöny on Friday allows medium-sized enterprises – ones with a headcount of at least 150 – to apply for the funding which is part of government measures to ease the economic impact of the coronavirus epidemic, Varga said.

Earlier the funding was available only to big companies, ineligible for European Union funding.

Varga said the funding may now be used for warehouse investments and renovations, too, and that guarantee conditions have been eased.

Earlier, the government raised the funding earmarked for the investment incentive programme to 40 billion forints from 15 billion forints, he noted.

Since the scheme was launched in 2015, it has supported investments worth a combined 264 billion forints that created 2,600 jobs, he added.

Featured photo by Márton Mónus/MTI