Hungarian finance ministry calls tender for EUR 10.7m in job creation subsidies

Applications for some 3.5 billion forints (EUR 10.7m) in funding for job-creating investments at microbusinesses and SMEs will be accepted from August 1, Finance Minister Mihály Varga told MTI.

The funding is part of 5 billion forints earmarked for the creation of 1,500 jobs.

Applications for the first round of funding was accepted between March 19 and April 22. Applications for the second round will be accepted between August 1 and September 5.

Varga said 98 companies won funding in the programme’s first round, creating 600 jobs and preserving almost 1,100 more.

Businesses may apply for up to 1.7 million forints in funding for each new job created. This funding may be topped up with additional subsidies for hiring temporary workers, fostered workers or women raising young children. Businesses that create jobs in underdeveloped areas are eligible for a further 400,000 forints top-up.

The base subsidy and top-ups add up to a potential 3.6 million per workplace.

Criteria include keeping hired workers employed for two years and maintaining new production capacity or services for three years.

As we wrote on Monday, Hungary’s three-month rolling average jobless rate reached 3.3 percent in April-June, edging down from 3.4 percent in the previous three-month period and down from 3.6 percent twelve months earlier, read details HERE.

As we wrote last week, based on the results of a survey conducted in Slovakia, average salaries are the highest in the capital of the Czech Republic, Prague; the runner-up is Pozsony/Bratislava, the Slovakian capital while Budapest is only the third and so the last one on the list. Read more HERE.