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Coronavirus: Gov’t Almost Triples Investment Funding for Large Companies in 2020

MTI-Hungary Today 2020.05.13.

The Hungarian government is raising its total investment funding for large companies from 15 billion forints by 25 billion to 40 billion forints (EUR 113.9m) in 2020, to help offset the economic fallout in the wake of the coronavirus epidemic, Finance Minister Mihály Varga said on Wednesday.

In a video posted on Facebook, Varga said investment funding for large corporations may help Hungary to investments worth a total of 315 billion forints over the next three years mainly in the food, construction and vehicle manufacturing sectors.

Since its launch in 2015, the Hungarian government’s investment support scheme for large companies has brought investments worth 246 billion forints to the country, which in turn have created 2,600 new workplaces, Varga said.

Featured photo by Tamás Kovács/MTI