Massive boost for small businesses: Hungarian government triples EU-backed funding for struggling regions

The government has raised the allocation for a European Union-funded support scheme that benefits small businesses in disadvantaged regions from HUF 50bn to HUF 150bn, the National Economy Ministry said on Friday.

The scheme, dubbed GINOP Plusz-1.2.4-25, aims to strengthen competitiveness and support convergence. The programme launched in the spring but was suspended on 7 July, with applications for a combined HUF 28.4bn of funding submitted. Applications will be accepted again from 5 August.

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