Ministry deems job preservation program a success

Ecosystem

Due to the Hungarian government’s job preservation program, which was launched three years ago, businesses received more than HUF 400 bln in tax preferences, enabling them to keep 900,000 people a year on their payrolls, Péter Cseresnyés, state secretary at the National Economy Ministry, responsible for for labor market and training, said yesterday, according to Hungarian news agency MTI.

The program so far has helped keep 338,000 people over the age of 55 in their workplaces, the state secretary said, adding that the program similarly helped more than 160,000 career-starters and approximately 40,000 mothers with small children, according to MTI.

The program has supported the employment of 290,000 Hungarians with low skills and education, 30,000 long-term unemployed and 20,000 in the farming sector, MTI reported.

The state secretary noted that the program is set to continue next year with a budget allocation of HUF 130-140 bln.

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.

Support the BBJ

Startups