Eligibility broadened for govʼt wage support


Photo by Liptak Robert / Shutterstock.com

Hungaryʼs government will offer wage support to businesses where man-hours have been reduced up to 75% because of the coronavirus pandemic, State Secretary for Economic Strategy and regulation László György said, according to a report by state news wire MTI.

Photo by Liptak Robert/Shutterstock.com

György said the wage support will be available to businesses even if their employees are working just two hours a day.

Earlier, the government had said the support would be available to businesses where man-hours had been reduced up to 50%.

György said businesses will also be able to draw down subsidized credit to cover nine months of wage costs. The loans will have a term of two years and an interest rate of just 0.1%, he added.

Budget-funded businesses and businesses already receiving wage-type assistance from European Union funding are ineligible for the support.

Details of the wage support are available in official gazette Magyar Közlöny.

Businesses may register for the support at https://nfsz.munka.hu/.

Hungarian Chamber of Commerce and Industry (MKIK) chairman László Parragh said government measures to help businesses are effective, but added that the crisis will make demands of both employers and employees. He said the danger of panic is over and businesses are trying to adapt to the new situation.

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