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Businesses tap HUF 473 bln in phase III FGS credit

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A little more than 11,000 Hungarian microbusinesses and SMEs tapped about HUF 473 billion in cheap credit available last year in the third and final phase of the Funding for Growth Scheme (FGS) of the National Bank of Hungary (MNB), a monthly release by the central bank shows, according to Hungarian news agency MTI. 

Net outlays — excluding repayments and funding not yet disbursed — came to HUF 359 bln at the end of December.

A little more than three-quarters of the contracted credit was for investments and the rest was for leasing transactions. Some HUF 320 bln of the credit was in forints and HUF 152 bln in foreign currency.

Since the FGSʼs launch in the summer of 2013, some 37,400 businesses have availed themselves of HUF 2.599 trillion of financing within the programʼs framework.

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