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Govt to Offer HUF 100 Bn of 0% Credit to Hard Hit Tourism Companies

MTI-Hungary Today 2020.08.02.

Hungary’s government will offer microbusinesses and SMEs in the tourism sector 100 billion forints (EUR 290m) of 0 percent free-purpose credit from September, the head of the Hungarian Tourism Agency told MTI on Saturday.

Zoltán Guller said companies that do all of their business in the tourism sector, which has been hard hit by the coronavirus crisis, may borrow up to 250 million forints in the framework of the state’s Széchenyi Card revolving credit scheme.

The credit will be available using a Széchenyi Card dedicated to tourism sector companies, he added.

Financing for the programme will be supported through the National bank of Hungary’s Funding for Growth Scheme (FGS).

Tourism in Hungary Still in Recovery Mode
Tourism in Hungary Still in Recovery Mode

As an impact of the lifted restrictions and the open borders, the volume of domestic tourism increased in June compared to May, but this is still only a fraction of the previous year’s turnover. In Hungary, the situation is more favorable than in several foreign countries, however the decrease in restaurants’ turnover rates is quite […]Continue reading

Details of the Széchenyi Tourism Card programme will be published in an issue of the official gazette Magyar Közlöny on Monday.

featured image: Zoltán Guller; via Tamás Vasvári/MTI