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Daily News Hungary Daily News Hungary · 24/05/2020
· Business

Coronavirus – Government broadens eligibility for investment subsidies

construction economy Hungary investment money
factory inauguration hungary

Photo: MTI/Czeglédi Zsolt

The government is expanding the range of businesses eligible for 40 billion forints (EUR 114m) in investment subsidies this year, Finance Minister Mihály Varga told MTI on Saturday.

A decree published in the official gazette Magyar Közlöny on Friday allows medium-sized enterprises – ones with a headcount of at least 150 – to apply for the funding which is part of government measures to ease the economic impact of the coronavirus epidemic, Varga said.

factory inauguration hungary
Read alsoCoronavirus – Government broadens eligibility for investment subsidies

Earlier the funding was available only to big companies, ineligible for European Union funding.

Varga said the funding may now be used for warehouse investments and renovations, too, and that guarantee conditions have been eased.

Earlier, the government raised the funding earmarked for the investment incentive programme to 40 billion forints from 15 billion forints, he noted.

samsung hungary plant göd
Read alsoHuge investment: Samsung plant in Hungary to create 2,700 jobs!

Since the scheme was launched in 2015, it has supported investments worth a combined 264 billion forints that created 2,600 jobs, he added.

Source: MTI

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