Businesses tap HUF 526 bln in phase III FGS credit in January
shutterstock
A little more than 12,000 Hungarian micro businesses and SMEs tapped about HUF 526 billion in cheap credit available in the third and final phase of the Funding for Growth Scheme (FGS) of the National Bank of Hungary (MNB) in January, Hungarian news agency MTI reported, citing a monthly release by the central bank.
On the first working Tuesday of each month (i.e. February 7 this month), the MNB publishes the amounts contracted for under the scheme in the previous month up until the last working day of the preceding week, i.e. up until Friday, February 3 on this occasion.
Net outlays in the period January 1 to February 3 inclusive - excluding repayments and funding not yet disbursed - came to HUF 394 billion.
A little more than three-quarters of the contracted credit was for investments and the rest was for leasing transactions. Some HUF 359 bln of the credit was in forints, and HUF 167 bln was in foreign currency.
Since the FGSʼs launch in the summer of 2013, some 38,100 businesses have made use of HUF 2.652 trillion of financing under the scheme.
Moody's Affirms Budapest's 'Baa3' Rating
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
