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Additional HUF 1 bln allocated to support SME exports

Ecosystem

The government will support the expansion of SMEs onto foreign markets with an additional HUF 1 billion, bringing the total allocation for the initiative to HUF 3 bln, Minister of Foreign Affairs and Trade Péter Szijjártó said on his Facebook page, according to a report by state news wire MTI.

The minister said with the expansion to the program 84 companies will receive financial support. Funding for small businesses is capped at HUF 50 million.

The companies can use the support either to enter foreign markets or to strengthen their market positions abroad, he said.

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