State wage support to be available from May

In Budapest

Photo by Liptak Robert / Shutterstock.com

State wage support for companies where employees are working less because of the coronavirus pandemic will be paid for a period of three months from May, state secretary for economic strategy and regulation László György said on public television on Tuesday, according to a report by state news wire MTI.

Photo by Liptak Robert/Shutterstock.com

The state will pay 70% of net wages for hours that employees canʼt work if companies can show a 15%-50% reduction in man-hours, Mr György said on news channel M1.

He added that the details of the wage compensation would be announced in days.

For Hungarians who have lost their jobs because of the pandemic, the state is offering a zero-interest student loan to cover living costs while paying 95% of the cost of retraining programs, György said.

He suggested that people who have lost their jobs in the tourism sector could boost their income later by investing their time in courses to become software developers or system administrators.

Innovation and Technology Minister László Palkovics unveiled the wage and re-training support earlier on Tuesday as part of a broader government plan to shield the economy from the impact of the pandemic and jump-start it when the crisis is over.

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