Six more companies receive support in plant rescue scheme

Six more companies are receiving total support of 2.5 billion forints to help energy efficiency investments under the arrangements of the government’s plant rescue scheme, the minister of foreign affairs and trade said on Monday.

Péter Szijjártó said in Pécs that the support will enable total investments worth 5.5 billion forints, securing more than 1,500 jobs at companies in south-western Hungary.

The scheme was launched after the outbreak of the war in Ukraine to strengthen Hungarian companies’ independence from the unpredictable fluctuations of the international energy market, he said.

A sum of 150 billion forints has been paid so far to 143 companies, enabling developments worth 396 billion forints and rescuing 69,000 jobs, he added.

Over the past seven years, Hungary’s investment promotion system managed the largest number of investment projects compared with other countries of the Visegrad group, and last year more investment projects were managed by the Hungarian investment promotion system than in any of the other three V4 countries, he said.

As we wrote before, Hungary will not escape recession, the state budget looks bad, Fitch said.

We wrote today, Unstoppable decline in housing construction in Hungary, details HERE.