Finance Minister Mihály Varga on Tuesday unveiled a 137 billion forint (EUR 397m) credit scheme for small businesses.
The interest-free credit is to help businesses weather the coronavirus epidemic and prepare for the competition after the recovery, Varga said.
Half of the credit in the programme will be made available for investments and half for working capital. Investment loans are capped at 150 million forints per company, while working capital loans are no larger than 300 million.
The credit is available to companies across the country with the exception of central Hungary, where GDP per capita exceeds the European Union average.
As we wrote yesterday, two in three companies have taken advantage of a government measure pushing back the deadline for filing and paying corporate tax from June 3 until September 30, read more details HERE.
Also we wrote yesterday, Hungary’s budget deficit, excluding local councils, reached 1,051.5 billion forints (EUR 3bn) at the end of May, widening on pandemic defense spending, the finance ministry said, read more HERE.