Hungarian govt tops up Baross Gábor credit scheme

The government has decided to raise the allocation for the Baross Gábor Reindustrialisation Programme, a subsidised credit scheme for businesses, by HUF 200 billion to 1,200 billion (EUR 3.1bn), the economic development ministry said on Thursday.

With the HUF 200 billion top-up, the government aims to support investments in manufacturing and services, FDI abroad and fleet upgrades at logistics companies, the ministry said. The credit targets the food, construction, telecommunications, pharmaceutical, tourism and catering, logistics and green industry sectors, as well as automotive industry suppliers, it added.

The scheme, launched on February 1, offered businesses credit capped at 6.0 percent for forint loans and 3.5 percent for euro loans. Credit will now be available at 5 percent for forint loans and 3 percent for euro loans, the ministry said.

So far, lenders have signed contracts for corporate credit worth of more than HUF 950 billion in the framework of the scheme. Outlays have reached HUF 700 billion.

Read also:

• Attention! Problems expected in fuel service during the festivities in Hungary

Source: MTI