Government: Hungary could prevent mass unemployment

The government is granting an additional 30 billion forints support to a scheme to boost competitiveness, the foreign minister said on Wednesday.

Péter Szijjártó said in a video on Facebook that Hungary, unlike many other countries, had successfully prevented mass unemployment as a result of the coronavirus pandemic. “This required the government to support companies carrying out

developments worth over 800 billion forints (EUR 2.3bn),”

he added.

In response to the success of the scheme, the government is offering a further 30 billion forints to support investments that expand capacity, efficiency and productivity by companies that pledge to retain workers, he said.

Companies can apply for up to 1.8 million euros, or one-fifth of the investment planned, he said. In underdeveloped regions, the amount of support can be up to one-third of the planned investment, Szijjártó added.

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Source: MTI