New economic policy action plan unleashes €10 billion through 21 measures in Hungary
The government is offering a new alliance to families and businesses with its new economic policy action plan, National Economy Minister Márton Nagy said in a video message on Facebook on Tuesday.
Nagy noted that the action plan was mobilising HUF 4,000bn (EUR 9.63bn), including HUF 2,600bn for families and HUF 1,400 for SMEs.
The action plan includes measures doubling the tax allowance for families raising children, increasing the minimum wage and launching subsidised credit for young blue collar workers, as well as steps to ensure affordable housing, he said. Support for business investments and digitalisation comes in the form of credit, capital and grants in the framework of the Demján Sándor Programme to scale up SMEs, he added.
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Applications for young workers’ credit being accepted
Applications for state-subsidised loans for young blue collar workers are now being accepted, a spokesman for the National Economy Ministry said on Facebook on Tuesday. Andre Palóc noted that the zero-interest credit was available to working Hungarians under the age of 25 ineligible for student loans. Borrowers, who may take out up to HUF 4m, can get two-year grace periods on repayments after the births of their first and second child, and the principal is forgiven after the birth of a third child.
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Bribery for childbirth is not going to work. Giving interest free loans and even forgivenss of an entire loan on the birth of a third child is nothing compared to the economic expense of raising three children all the way to adulthood. People are not that stupid and while it has admittedly some effect it is quite small.