Weekly newsletter

Coronavirus – Gov’t: HUF 600 Billion Spent on Prevention So Far

MTI-Hungary Today 2020.05.12.

Up to now, the government has spent a total 600 billion forints (EUR 1.7bn) on preventive measures with regard to the novel coronavirus epidemic, Andras Tállai, Hungary’s deputy finance minister, told MTI on Tuesday.

On top of health measures, the government is spending “thousands of billions” of forints on economy protection, Tállai said. The economic measures are aimed to help “150,000 small companies, 60,000 families with small children, several hundred thousand businesses, as well as students and troubled loan holders,” he went on to say.

Concerning the actual measures, he said that 151,000 small companies could benefit from the government’s lifting their itemised tax for four months, and it could help saving some 220,000 jobs, he added.

A reduction in the employers’ tax would leave some 160 billion forints with entrepreneurs, while they would also benefit from measures aimed at reducing their red tape, Tállai said.

Tállai also noted the government’s decision to reintroduce 13th month’s pensions and ensure continued benefits to young mothers.

Featured photo by Attila Kovács/MTI