Széchenyi Card expenditures exceed HUF 1.5 trillion

Telco

Expenditures made within the framework of the Széchényi Card Program – a state-sponsored scheme offering businesses revolving credit – have exceeded HUF 1.5 trillion, Hungarian news agency MTI reported today.

László Krisán, CEO of KAVOSZ, which runs the scheme, said that since the launch of the scheme in 2002, more than 224,000 credit contracts have been signed with companies, MTI said.

National Economy Minister Mihály Varga said the Hungarian government supported the program with an annual HUF 4 bln, MTI reported. The minister, however, noted that the credit generated HUF 40-48 bln of additional tax revenue, MTI said.

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