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A total of 350 companies applied for government subsidies for investments that support job preservation during the coronavirus crisis within fifteen minutes after the support scheme was relaunched on Wednesday, Minister of Foreign Affairs and Trade Péter Szijjártó said on Facebook.

The scheme, relaunched at noon on Wednesday, offers a total 61 billion forints (EUR 168.9m) of grant money, Szijjártó said, noting that companies are able to bid for a maximum of 800,000 euros of support, covering one-third of their investment.

“The fact that applications had to be closed after 15 minutes demonstrates the vigour of the Hungarian economy,” Szijjártó said.

Investment Volume Falls by 12% in Q3
Investment Volume Falls by 12% in Q3

Investment volume in Hungary fell by an annual 12.0 percent in the third quarter of 2020, the Central Statistical Office (KSH) said on Thursday. In a quarter-on-quarter comparison, investment volume fell by a seasonally-adjusted 2.1 percent. Investment volume fell in most economic sectors but jumped by 98.4 percent in health care due to pandemic-related spending, […]Continue reading

“During this time, 350 Hungarian companies submitted bids, committing themselves to further investments which will help us save tens of thousands of jobs.”

Featured photo illustration by Tibor Rosta/MTI