Construction industry presses govʼt for supply-side support

Construction

Lászlo Koji, the head of national building industry association ÉVOSZ, acknowledged that the reduction in the home construction VAT rate to 5% from the start of next year will boost market demand, but he told Hungarian news agency MTI that supply-side incentives, such as support for investments and training, are also necessary.

Koji noted that 108,000 of the 114,000 construction companies in Hungary employ fewer than five people, and these microbusinesses need such support.

He said the second wave of the pandemic had delayed the completion of 2,000-2,500 homes until next year, reducing the total for this year to no more than 23,000.

Koji added that ÉVOSZ had proposed at its latest meeting with government representatives giving construction companies a six-month grace period to comply with energy efficiency requirements coming into force from the start of next year. It also recommended making payment of wages that are at least 70% of the national average a condition for biding in public procurement tenders, he added.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.